Galipolo: Data shows a slowdown in the economy, but it is very slow and gradual finance

Central Bank (BC) President Gabriele Galipolo said the data shows an economic slowdown process, “but it is very slow and gradual.” Galípolo is participating this afternoon in an event promoted by Itaú Asset Management.

“Of course we would like the convergence of inflation (towards the target) to be faster,” he said. However, on the other hand, the BC President emphasized that this move “removes that other risk” of producing “a very sudden slowdown in the economy.”

“The central bank can produce convergence at more or less cost, but it will set the interest rate at the level and time required to achieve convergence,” he said.