End of Brazil’s rate hike cycle still depending on data, cenbank says

End of Brazil’s rate hike cycle still depending on data, cenbank says

© Reuters. FILE PHOTO: People walk in front the Central Bank headquarters building in Brasilia, Brazil March 22, 2022. REUTERS/Adriano Machado

SAO PAULO (Reuters) – Brazil’s central bank director Bruno Serra said on Wednesday that although he hopes the country’s interest rate hike cycle is nearing its end, that would still depend on data, as bringing inflation to the target is set to be a long process.

Serra, the central bank’s monetary policy director, also said during an event that Brazil is capable of hiking rates “a bit more” if needed, mentioning rising global interest rates.

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