CMN Resolution No. 5,018 — Sets the inflation target and its respective tolerance intervals, as well as the price index applicable for the year 2025 — BCB — BR

Resolution No. 5,018

CMN RESOLUTION NO. 5,018, OF
JUNE 23, 2022

~~Sets the inflation target and its respective tolerance intervals, as well as the price index applicable to them, for the year 2025.~~

Sets the inflation target and its respective tolerance intervals for the year 2025, as well as the price index adopted for the purposes of the inflation targeting regime. (Revised, effective from 7/1/2023, by CMN Resolution No. 5,091, of 6/30/2023)

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes public that the Monetary Council, in a session held on June 23, 2022, considering the provisions of § 2 of Article 1 of Decree No. 3,088, of June 21, 1999,

R E S O L V E S:

Article 1. It is established that the price index related to the inflation targets, referred to in § 1 of Article 1 of Decree No. 3,088, of June 21, 1999, is the Broad Consumer Price Index (IPCA), calculated by the Brazilian Institute of Geography and Statistics (IBGE).

Sole paragraph. The Monetary Council, upon proposal from the Minister of State for the Economy, shall determine a substitute index in the event that it is impossible to ascertain the index referred to in the caput of this article.

Article 1 (Revoked, effective from 1/1/2025, by CMN Resolution No. 5,141, of 6/26/2024.)

Article 2. For the year 2025, the inflation target is set at 3.00% (three whole percent), with a tolerance interval of minus 1.50 p.p. (one and a half percentage points) and plus 1.50 p.p. (one and a half percentage points).

Article 2 (Revoked by CMN Resolution No. 5,141, of 6/26/2024.)

~~Article 3. The Central Bank of Brazil shall make the necessary modifications to its regulations and norms, aiming at the execution of the content contained in this Resolution.~~

Article 3 (Revoked by CMN Resolution No. 5,141, of 6/26/2024.)

~~Article 4. Resolution No. 2,744, of June 28, 2000, is hereby revoked.~~

Article 4 (Revoked by CMN Resolution No. 5,141, of 6/26/2024.)

~~Article 5. This Resolution enters into force on July 1, 2022.~~

Article 5 (Revoked by CMN Resolution No. 5,141, of 6/26/2024.)

Roberto de Oliveira Campos Neto

President of the Central Bank of Brazil