STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBRASILIA - The Brazilian government expects cuts of at least 50 basis points in the central bank's benchmark interest rate over the remaining three meetings this year, aiming to end 2023 with the rate below 12%, Planning Minister Simone Tebet said on Tuesday.
During an interview with TV GloboNews, Tebet voiced support for the formal autonomy of the central bank. Regarding the easing process, she said her main concern was related to the delay in its commencement.
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Fed to leave rates unchanged on Sept. 20; cut unlikely before Q2 2024: Reuters pollThe Federal Reserve will leave its benchmark overnight interest rate unchanged at the end of its Sept. 19-20 policy meeting and probably wait until the April-June period of 2024 or later before cutting it, according to economists in a Reuters poll. Fed Chair Jerome Powell underscored the 'higher-for-longer' mantra for rates in a speech at the annual Jackson Hole central banking symposium in August and maintained another rate hike might still be needed to bring inflation down to the 2% target. But other members of the rate-setting Federal Open Market Committee (FOMC), including some of the more hawkish ones, have raised the possibility of holding off on another rate hike to allow more time to gauge the impact of the cumulative 525 basis points of tightening delivered by the Fed since March 2022.
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