By Kristalina Georgieva, IMF Managing Director – Let me start by thanking the Atlantic Council for providing a fitting venue to discuss central banks’ forays into Digital Currencies.
The Argentine Central Bank's monthly Survey of Market Expectations (REM) has matched the National Institute of Statistics and Census (INDEC) announcement Thursday of a 3.2% increase in retail prices nationwide.
Brazil's central bank president Roberto Campos Neto said this weekend that Latin America's largest economy will begin to recover from the coronavirus crisis in the fourth quarter, according to an interview in local media.
Brazil’s central bank on Wednesday cut its benchmark interest rate by 50 basis points to a record-low 3.75% to cushion the economic blow of the coronavirus pandemic but signaled no rush to cut again and emphasized the need for more economic reforms.
Investors erased US$ 393 billion from China’s benchmark stock index on Monday, sold the Yuan and dumped commodities as fears about the spreading coronavirus and its economic impact drove selling on the first day of trade in China since the Lunar New Year.
China's central bank said it will inject 1.2 trillion Yuan (US$ 174 billion) worth of liquidity into the markets via reverse repo operations on Monday as its stock markets prepare to reopen amid an outbreak of a new coronavirus.
An improvement in Brazil’s sovereign credit rating hinges more on stronger economic growth than lower interest rates, rating agency Moody’s said on Tuesday, urging economic reform and the shoring up of public finances.
Gradual economic growth and persistently low inflation in Brazil are likely to pave the way for a further reduction in interest rates, the country’s central bank indicated on Tuesday, warning that global economic conditions appear to be deteriorating.
Brazil’s central bank held its benchmark interest rate at a record-low 6.50% on Wednesday, as expected, holding back from signalling looser policy because of doubts on economic reforms. The scenario outlined by policymakers was one of anaemic economic growth and high levels of economic slack putting downward pressure on inflation at home, plus the prospect of interest rates coming down in major developed economies.
The Brazilian economy’s ability to emerge from its current funk and return to “more robust” levels of growth largely hinges on the approval and implementation of fiscal reforms, the central bank’s deputy governor said in London.