LatAm Daily | COPOM in Brazil leaves the Selic rate at 14.25% but alters its strategy

Summary

As we expected, the COPOM unanimously decided to keep the Selic rate unchanged at 14.25% for a sufficiently prolonged period to ensure that inflation converges to the target in the relevant horizon for monetary policy. October’s IPCA-15 was significantly higher than the previous reading. In Mexico, August retail sales increased above forecasts.

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