Copom minutes are in the spotlight this Tuesday (24) (Image: REUTERS/Adriano Machado)
The minutes of the Monetary Policy Committee (Copom) is in the spotlight this Tuesday (24).
The document, which will be released at 8 am (Brasília time), will provide more details about the Committee's decision. Banco Central Brazilian to raise the Selic by 0.25 percentage points (pp) at last week's meeting, to 10.75% per year.
In the statement, the directors highlighted that “the scenario, marked by resilience in activity, pressures in the labor market, a positive output gap, rising inflation projections and unanchored expectations, demands a more contractionary monetary policy”.
Unlike the previous statement, this time, they highlighted the reassessment of the gap to the positive side. “The set of indicators of economic activity and the labor market has shown greater dynamism than expected,” they say.
Communication has also changed in relation to inflation. Unlike the previous statement, the directors stated that the IPCA full as well as measures of underlying inflation were above target in the most recent releases.
According to analyses, Copom opted for a more modest tightening of the basic interest rate, but adopted a more hawkish (hard) — which has led the market to raise expectations for greater increases in the next meetings of the year. It remains to be seen whether the directors will maintain this tone in the minutes released today.
This morning, the EWZthe main Brazilian stock ETF traded on the US market, rises in pre-opening. Yesterday (16), the Ibovespa (IBOV) closed down 0.38%, at 130,568.37 points.
Out there, the futures of Wall Street and international stock markets are operating at a high.
Morning Times: Check out the markets on Tuesday morning (24)
Asian stock markets
- Tokyo/Nikkei: +0.57%
- Hong Kong/Hang Seng: +4,13%
- China/Shanghai: +4.15%
European stock exchanges (open market)
- Londres/FTSE100: +0,30%
- Paris/CAC 40: +1,50%
- Frankfurt/DAX: +0,68%
Wall Street (futures market)
- S&P 500: +0,16%
- Dow Jones: +0,14%
- Nasdaq: +0,28%
Commodities
- Oil/WTI: +2.53%, at US$ 72.15 per barrel
- Oil/Brent: +2.38%, at US$ 75.66 per barrel
Cryptocurrencies
- Bitcoin (BTC): -0,16%, a US$ 63.640,0
- Ethereum (ETH): -0,35%, a US$ 2.647,00
Happy Tuesday and keep an eye on Money Times for the latest market news!