Brasile Tasso Di Interesse

The central bank of Brazil kept its key Selic rate unchanged at 13.75% for the fifth consecutive meeting in March 2023, in line with market expectations. The board mentioned that global activity and inflation remain resilient and the monetary tightening continues to advance in major economies. The bank decided to maintain its strategy for a longer period to ensure the convergence of inflation, while won't hesitate to resume the tightening cycle if the disinflationary process does not proceed as expected. Most recent economic activity indicators continue to corroborate the deceleration scenario. Annual inflation eased to 5.6% in February 2023, while Inflation expectations for 2023 and 2024 have increased to 6.0% and 4.1%, respectively.