Brazil's central bank leaves its benchmark rate unchanged for the second month in a row

Banco Central do Brasil has left its Selic rate unchanged at 13.75%. This was the consensus expectation.

Summary Headlines via Reuters:

• Will remain vigilant
• Will assess if the strategy of maintaining the Selic rate for a sufficiently long period will be enough to ensure the convergence of inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term
• Will persist in its strategy until consolidating disinflation and the anchoring of expectations around its targets
• Will not hesitate to resume the tightening cycle if the disinflationary process does not proceed as expected
• Relevant horizon for monetary policy includes 2023 and 2024
• External economic outlook remains adverse and volatile
• Markets seem more sensitive to fiscal fundamentals, including in developed countries
• Brazilian economic indicators suggest a more moderate growth rate

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ps. The pace of rate hikes is slowing.

• In October: RBA raises its cash rate by 25bp

And, on Wednesday in Canada:

• Forexlive Americas FX news wrap: Bank of Canada delivers a dovish surprise

Perhaps the RBNZ is about to join in the slowing:

• RBNZ Governor Orr says monetary policy will be reviewed in the middle of November