COPOM Watch: Bad Omens

BRAZIL ECONOMICS - Report 12 Nov 2024 by Alexandre Schwartsman, Cristina Pinotti and Diego Brandao

While the statement following last week’s Copom meeting was virtually identical to the previous meeting's (albeit with a slightly more critical tone toward fiscal policy), the minutes brought some changes compared to its previous incarnation. These changes, while not suggesting any commitment regarding the size of upcoming monetary policy steps, indicate a greater concern within the Committee about incoming inflationary pressures.

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