The first meeting of the National Monetary Council (CMN) in the government of Luiz Inácio Lula da Silva will not be held this Thursday (26), as originally scheduled, with the collegiate meeting expected to take place only on February 16, informed the Ministry da Fazenda this Tuesday (24).
According to the folder, there are no deliberations to be evaluated or approved by the Council this month.
The CMN meeting became the focus of the market’s attention because of the new composition of the collegiate, but also because of a statement made last week by Lula, who questioned whether the inflation target was too low.
The inflation target for 2023 is 3.25%, with a tolerance margin of plus or minus 1.5 points. For 2024, the established level is 3%, with the same tolerance band, and, for 2025, there is a target of 3%.
In June of this year, the target of 2026 should be set.
The target is defined by the CMN, which now comprises Haddad, the Minister of Planning, Simone Tebet, and the president of the Central Bank, Roberto Campos Neto.
In the administration of Jair Bolsonaro, the group was formed by the Minister of Economy, the Secretary of Treasury and Budget of the Ministry of Economy and the President of the Central Bank.
Last week, Lula said in an interview with GloboNews that the current inflation target forces a squeeze on the economy so that the target is reached.
On Monday (23), the Minister of Finance, Fernando Haddad, said that there is confidence that Brazilian inflation is converging towards the target and this will have to be observed by the CMN.
Source: CNN Brasil
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