BRASILIA, May 9 (Reuters) - Brazil's central bank said
on Tuesday that the likelihood of the most severe outcomes for
the public debt trajectory has decreased, while it also
acknowledged there have been no substantial alterations in
inflation projections as expectations remained relatively
stable.
In the minutes of the meeting held between May 2-3, when the
rate-setting committee known as Copom kept the benchmark rate at
13.75% for the sixth consecutive time, policymakers emphasized
that this development "reinforces the understanding that there
is no mechanical relationship between monetary policy and the
fiscal framework," following the government's unveiling of
highly anticipated new fiscal rules.
(Reporting by Marcela Ayres; Editing by Steven Grattan)
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