Global Economy
BCB Minutes (Sep): Although monetary policy has been playing a decisive role in the disinflation process, inflation still being driven by demand, requiring monetary policy to remain tight
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BCB's September minutes state that monetary policy must remain tight due to demand-driven inflation, despite accumulating evidence of contractionary policy transmitting to economic activity.
News detail
Evidence of the transmission of contractionary monetary policy to activity has been gradually accumulating. It is necessary to closely monitor potential second-round effects and to react decisively should those effects materialise.
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