Last week, the country’s central bank maintained its benchmark interest rate at 13.75% for the seventh consecutive time, but took a more dovish tone on its future steps in a statement by excluding the possibility of upcoming rate hikes.
However, in its minutes published earlier on Tuesday, the bank said that a majority of its policymakers see a possibility of a “parsimonious” rate cut at its next meeting in August, provided that a more benign inflation scenario consolidates.
According to Tebet, this would be the fourth time that the minutes soften the statement with a milder tone.
Source: Economy - investing.com
