Brazil Inflation at 4.47% Nears Ceiling, Bolstering BC's Rate-Cut Caution

Brazil's 12-month inflation rose to 4.47% after a 0.70% monthly increase, approaching the upper bound of the central bank's target range. This strengthens the case for the BC to hold off on further interest rate cuts, potentially delaying easing. The data suggests persistent price pressures, complicating the monetary policy outlook.