Turkey held at 37% but JPMorgan sees a hike to the 40% corridor ceiling as imminent. Mexico's floor sits at 6.50%, where peso stability has more sway than the domestic cycle. Brazil's near-10% real rate on the Selic stands apart from both.
Brazil’s DI curve prices in a June Selic cut even as May mid-month inflation data came in above consensus, bolstering the case for the central bank to maintain its 14.50% policy rate. Source
