MNI BRIEF: No Single Indicator Will Trigger Cuts- BCB Galipolo

Central Bank of Brazil Governor Gabriel Galipolo said Wednesday no single piece of data will trigger the board to begin its easing cycle, noting that all members deliberate on the appropriate move at each meeting.

"There is not one specific indicator that is the trigger for us to make any kind of reaction, nor is it a template for all the indicators you will be analyzing," Galipolo said at an event sponsored by Bradesco Asset Management in São Paulo.

"That is why there is a committee of nine people who, at the end of the day, make these considerations about the various incoming variables," he added.

Galipolo noted that the Brazilian economy often reveals "somewhat unusual correlations," such as lower unemployment with moderate inflation. "All of them suggest the monetary authority should exercise more caution and more conservatism."

The BCB held its benchmark interest rate at 15.00% last week. (See MNI BCB WATCH: Keeping 15.00% Rate For Longer Will Be Enough)