Brazil's incoming central bank chief signals 'higher rates for longer'

BY Reuters | ECONOMIC | 12/02/24 08:32 AM EST

BRASILIA, Dec 2 (Reuters) - Brazil's incoming central bank chief Gabriel Galipolo said on Monday that the current scenario points to "higher interest rates for longer."

Speaking at an event hosted by XP, he said it seemed "logical" for an economy that has been showing greater dynamism and tightness than anticipated, alongside a weaker domestic currency, to "require a more contractionary monetary policy."

Galipolo currently serves as the central bank's monetary policy director. (Reporting by Marcela Ayres; Editing by Gabriel Araujo)

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