The Brazilian central bank maintained the benchmark Selic at 13.75% for a third consecutive meeting this week, as expected by all analysts. It was the last rate meeting before Lula da Silva assumes the country’s presidency on January first.
Brazil's Central Bank (BCB) CEO Roberto Campos Neto said Monday that the worst part of inflation in his country was over, after the proper tools to curb the process had been taken.
Brazil's Central Bank (BCB) Thursday announced it projected a 1.7% increase in the country's Gross Domestic Product (GDP) by the end of 2022, thus improving a previous forecast released in March, which mentioned merely 1%.
As anticipated Brazil's central bank, in a unanimous decision, raised interest rates by 1% to 12,75%, the highest in five years, to contain double digit inflation. However policymakers suggested their tenth straight rate increase would not be the last in what has been one of the world’s most aggressive ongoing rate hike cycles.
Employees of Brazil’s Central Bank (BCB) Friday went on strike to demand better wages. The workers have announced that their measure will continue until an answer has been achieved. The new circumstances affect local payments and other services, it was reported.
Brazilian market analysts raised their forecasts for inflation and the Selic key interest rate for 2022 as increasing fuel and food costs plus resurgent demand for services are spiking prices as the pandemic seems to be coming to an end.
Brazil's Economic Activity Index (IBC-Br), released by the Central Bank and believed to be an omen of the country's Gross Domestic Product (GDP) rose 1.70% in February 2021, against January's figures, it was announced Monday.
With public finances threatened, Brazil’s Real has suffered as investors adjust to changing liquidity conditions globally, but some of it has not been justified by economic fundamentals, central bank President Roberto Campos Neto said on Tuesday.
Brazil's Central Bank chief Roberto Campos Neto admitted on Thursday that the January interest fixing rate policy meeting release may have generated more confusion in financial markets, instead of more transparency in communications.
Brazil’s recent spike in inflation is temporary, central bank President Roberto Campos Neto said, adding, however, that policymakers are monitoring developments closely.