RIO DE JANEIRO, BRAZIL - The Monetary Policy Committee (Copom) of the Central Bank of Brazil revealed on Tuesday, January 27th, that it has begun to consider the possibility of cutting back on the "extraordinary" monetary stimulus it put in place due to the novel coronavirus pandemic.
"Some members (of the committee) wondered whether it would continue to be appropriate to maintain the extraordinarily high degree of stimulus, given the normalization of the functioning of the economy seen in recent months," according to the just released minutes of Copom's meeting last week, at which members decided to maintain the benchmark . . .
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