The director of monetary policy and future president of the Central Bank, Gabriel Galípolo, stated that the institution will evaluate economic indicators “meeting by meeting” before making any decision on the basic interest rate, the Selic. The speech took place during the 2025 Investment Forum, in São Paulo, on Wednesday (13).
“Each meeting will be guided by the evolution of economic data, without prior commitments and without a mechanical relationship with other variables”, stated the economist.
Galípolo also said that the 3% inflation target is the main guideline of the Central Bank, which currently avoids providing prior guidance or “guidance” to the market, in addition to not linking interest rates directly to variables such as the exchange rate, according to the portal Power 360.
The director’s statements came after the meeting of the Monetary Policy Committee (Copom) on the 12th, when part of the market began to consider an acceleration in the rate of increase in the Selic rate unlikely, with the next meeting scheduled for December 11th. The tone of the last minutes was interpreted as a sign of the institution’s stance in relation to inflation control, even without clear indications of future adjustments.
When reaffirming that the Central Bank will not give up on the inflation target, Galípolo also pointed out that the institution closely monitors labor market data and trade and unemployment indicators, which are fundamental for the construction of monetary policy.
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