RIO DE JANEIRO, BRAZIL - With "all" board members agreeing to signal to the market that the policy rate will be at its neutral level of 3.5% sooner rather than later, the historic 125 basis point adjustment was made, bringing it to 2.75%.
According to the minutes of the October monetary policy meeting, given the evolution and risks of the economic environment - which assumes more substantial inflationary pressures due to the depreciation of the peso as a result of the discussion of a fourth withdrawal of funds from the AFP and a greater pass-through of the costs caused . . .
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