A 75bp hike vs. the 50 that was widely expected from the Banco Central do Brasil.
- BCB add that they expect to hike another 75bps at the following meeting
- says it has initiated a partial normalisation process, reducing its extraordinary degree of monetary stimulus
Despite with the FOMC and Powell tell us I think perhaps the BCB is providing a sneak preview of what is to come from the Fed prior to 2024. We’ll see.