BRASILIA (Reuters) – Brazil’s planning and budget minister Simon Tebet said on Tuesday that the country’s central bank was making “unnecessary noise” by making mixed comments about its plans for a benchmark interest rate.
Last week, the country’s central bank maintained its benchmark interest rate at .% for the seventh consecutive time, but adopted a softer tone. The statement ruled out an imminent rate hike, thereby ruling out future steps.
However, in the minutes of the meeting released earlier Tuesday, the bank said that most of its policymakers believe that if the inflation situation is more dovish, then the A “minimalist” rate cut is likely at the next meeting in August.
According to Tebet, this will be the fourth time the minutes have softened their tone to a more dovish statement.
