BCB Reiterates Stance
Brazil Central Bank reiterates stance that magnitude of calibration cycle will be adjusted in light of developments in the scenario
Global outlook remains uncertain (shocks from Mid-East and El Nino) - - Greater monetary restrictions needed for longer - - Board considered different paths for rates - - Selic trajectories are less divergent from focus survey - - Inflation risks are on the upside - - Economic activity accelerated in Q1 - - High rates showed signs of slowing economic activity