Brazilian Interest Rate Decision 13.75% vs. Exp. 13.75% (Prev. 14.00%), decision was unanimous

Says: Will continue to monitor developments in this scenario in order to keep monetary policy adequately restrictive to ensure convergence to the inflation target. Scenario requires serenity and cautiousness in the conduct of monetary policy. Set of indicators released since the last meeting shows a gradual moderation of economic activity, particularly in more cyclical sectors, albeit at a resilient level and a tight labour market. Closely monitoring the de-anchoring of long-,term inflation expectations and those risks to inflation both to the upside and to the downside remain higher than usual, with an upward asymmetry. Total magnitude of the calibration cycle will be established in light of new information aiming to ensure inflation convergence to the target.