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🌏 EM easing cycles are hitting their inflation ceilings, and Brazil's Copom is up first

🌏 EM easing cycles are hitting their inflation ceilings, and Brazil's Copom is up first

India's RBI held at 5.25% but lifted its FY2027 CPI forecast to 5.1%. Brazil's Copom meets June 16-17 as the first test of whether EM easing cycles can survive domestic inflation that keeps running above target.

Line chart of inflation volatility for Chile, Peru, South Africa, Colombia, and Poland from 2007 to 2026.
Inflation volatility persists across emerging markets according to the South African Reserve Bank chart of the week amid limited data prints from Russia and peers. Source

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