Brazil’s MPC removes forward guidance

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The Central Bank of Brazil’s monetary policy committee removed forward guidance from its policy statement on January 20.

The policy-makers voted unanimously decided to take that step, citing higher inflation, five months after introducing forward guidance to its statements. The MPC said the conditions requiring the forward guidance, including rate cuts, no longer held. It said in a statement that “inflation expectations, as well as inflation projections for its baseline scenario, are

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