Brazilian central bank president Roberto Campos Neto said he has not been sounded out about replacing Economy Minister Paulo Guedes when he eventually leaves his post, and said the whole notion is a “non-issue.”
Brazil's central bank cut its key Selic lending rate to a record low on Wednesday and left the door open for more cuts, as the outlook for inflation remains below target amid the impact of the coronavirus pandemic on the economy.
The gloom surrounding Brazil’s economy lifted for a fifth week in a row, a central bank survey of economists showed on Monday, with the average forecast for 2020 gross domestic product now showing a decline of 5.7%.
Brazil’s central bank cut its benchmark interest rate by 75 basis points to a record low of 2.25% on Wednesday, as expected, and said there was some room left for further monetary stimulus to support an economy ravaged by the coronavirus pandemic.
The outlook for Brazil’s economy deteriorated for a 17th week in a row, with Latin America’s largest economy now expected to shrink by 6.5% this year, a central bank survey of economists showed on Monday.
Brazil posted a net foreign exchange inflow of US$ 3.1 billion in May, central bank figures showed on Wednesday, its first net inflow since July last year.
Brazil's financial analysts downgraded their economic growth forecast for 2020 from -5.89% to -6.25%, marking the 16th downward adjustment in a row, the Central Bank of Brazil said on Monday.
Brazilian inflation and interest rate expectations for next year have fallen to new lows, according to a central bank survey of economists published on Monday, strengthening the view that monetary policy will be loosened further in the months ahead.
Brazilian central bank president Roberto Campos Neto said on Wednesday that the balance of economic risks and increasingly benign inflation means there is scope to cut interest rates further.
Brazil’s central bank announced it would sell dollars outright in the spot currency market this month for the first time in over a decade, changing its regular market operations in response to rising demand for liquidity.