With little change in the text, the market noted the maintenance of a conservative tone from the Monetary Policy Committee (Copom) of the Central Bank (BC) last week, which reinforced the perception of a commitment from the authority to the inflation target. This resulted in an easing of financial conditions, with a clear drop in medium and long-term rates on Thursday and Friday, a sign of success for the monetary authority. After all, the burning of premiums in the interest market has also led to lower inflation expectations.
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