The Central Bank of Brazil hikes to 7.75% (consensus expectation was for a 1% hike to 7.25%)
- The Bank says it sees a hike of the same magnitude at its next meeting
- baseline scenario and balance of risks indicate it is appropriate for the interest rate hike cycle to advance into restrictive territory
- new extensions of fiscal policies responding to the pandemic iare pressuirng aggregate demand and worseing the fiscal outlook
more to come