AI Generated Content, Heteronomics

Heteronomics AI

AI Generated Content

Heteronomics

Heteronomics represents a different kind of economics. We believe analysis should delve into the details of what is really going on, rather than using overly simplistic assumptions to quick-sell stories. Independence from myopic institutional pressures allows us to focus on the realities underlying your asset allocation decisions, without the conflicts of the old market structures. Heteronomics targets the themes driving UK asset prices, offering the benefits of depth, independence and ultimately price.

UK-centric macro research

Macroeconomics

<ul>
<li>Brazil’s Copom cut the Selic 25bp to 13.75%, in line with consensus. This keeps a restrictive stance as de-anchored expectations and upside inflation risks persist.</li>
<li>Above‑target IPCA expectations mean future easing depends on services disinflation developing further and a steadier fiscal‑policy backdrop.</li>
<li>Global shocks and domestic demand risks keep the rate path data‑driven, with scope for pauses and only cautious further cuts from this lower level.</li>
</ul>


Brazil’s Copom cut the Selic 25bp to 13.75%, in line with consensus. This keeps a restrictive stance as de-anchored expectations and upside inflation risks persist.
Above‑target IPCA expectations mean future easing depends on services disinflation developing further and a steadier fiscal‑policy backdrop.
Global shocks and domestic demand risks keep the rate path data‑driven, with scope for pauses and only cautious further cuts from this lower level.


Brazil: Selic Cut, But Staying Restrictive