International interest rate comovements and monetary policy in Bazil

International interest rate comovements and monetary policy in Bazil

Blog Article

This article shows that international spillovers or coordination in central bank interest Beach Shorts rate setting are significant components of the Brazilian Taylor rule.For this, the short-term interest rate comovements of 28 countries and Euribor were estimated through a dynamic factor model.A nonlinear reaction function for the Central Bank of Brazil that includes global and regional factors evidenced that monetary policy in Brazil is influenced by the policy Pop! Jumbo of other broad groups of countries and not just the United States and the Eurozone.