Description

The main objectives of this Monetary Policy Report are: (i) to inform and explain to the Senate, the Goverment and the general public the Board’s view of recent and expected inflation trends and their consequences for the conduction of monetary policy; (ii) to publicly explain the medium-term framework used by the Board of the Central Bank to formulate monetary policy; and (iii) to provide information that is useful in the formulation of economic agents’ expectations regarding future inflation and output trends.

The Monetary Policy Report is a quaterly issue that comes out on March, June, September and December, focussing on the main factors influencing inflation trend, which include the international scenario, financial conditions, aggregate demand prospects, activity and employment, and recent evolution of prices and costs, as well as a summary with the consequences of this analysis, on inflation prospects and risks over economic growth for the next eight quarters. Some boxes are also included presenting more detailed considerations on relevant matters to evaluate the inflation trend and the monetary policy.