Galípolo: BC is quite concerned about inflation above target; maintains restrictive stance

The president of the Central Bank, Gabriel Galípolo, stated on Thursday that the monetary authority is ‘quite concerned’ about inflation and expectations in Brazil being above target, although there is a disinflation process underway. This declaration took place during a presentation at the Indonesia-Brazil Economic Forum in Jakarta. Galípolo emphasized the importance of addressing the inflation issue seriously to maintain stability in the economy and ensure the credibility of the Central Bank’s monetary policy. He acknowledged the challenges posed by external factors impacting domestic inflation dynamics, but reaffirmed the commitment to implementing measures to mitigate these effects.