Leading and coincident indicators suggest that the declining trend in economic activity may last longer - and be stronger - than we expected.

Ilan Goldfajn

Categorized in : Company News

All instruments are valid, for now, it seems liquidity is needed through currency swaps. If the situation changes, if there is demand, we may use reserves.

I would like to stress that monetary policy is separated from exchange rate policy. There is not a mechanical relationship between them, monetary policy...will not be used to control exchange rates.