Brazilian central bank director Diogo Guillen stressed on Tuesday the risks of distancing inflation expectations from official targets, as policymakers have indicated there was no room for monetary easing in the near future.
Brazil's central bank stated on Tuesday that current monetary policy requires "serenity and patience," indicating that worsening inflation expectations justified its decision to maintain a hawkish stance towards future steps. In the minutes of the meeting held between March.
Brazil's central bank said that the Finance Ministry's commitment to implementing fiscal measures and the reinstatement of fuel taxes smooths the fiscal stimuli on demand, reducing the upside risk on inflation in the short-term, according to minutes from its last policy meeting on Tuesday. In the minutes of the meeting held between March.
Brazilian Institutional Relations Minister Alexandre Padilha said on Monday that there is still no date set for the presentation of the proposed new fiscal framework. Padilha told journalists in Brasilia that President Luiz Inacio Lula da Silva will discuss the new fiscal rules in meetings this week with the Finance Minister, Fernando Haddad, and Chief of Staff, Rui Costa.
Brazil posted a lower-than-expected current account deficit in February, showed central bank data on Monday, mainly due to a decrease in factor payments. The country's current account deficit reached $2.8 billion in February, lower than the $5 billion shortfall forecast in a Reuters poll of economists.
Brazil posted a current account deficit of $2.815 billion in February, the central bank said on Monday, lower than the $5 billion shortfall forecast in a Reuters poll of economists. Foreign direct investment totaled $6.451 billion in February, missing the Reuters poll estimate of $10.177 billion.
* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine. Russia's diesel and gasoil shipments to Brazil, Turkey and Africa were heading to new record highs in March as traders pushed into new markets following an EU ban on Russian oil products, according to traders and Refinitiv data.
Brazilian President Luiz Inacio Lula da Silva has been diagnosed with mild pneumonia and will delay a planned trip to China by a day, leaving on Sunday, the presidential palace and his doctor said. Lula's physician, Dr. Roberto Kalil, told Reuters that the president is in good health after undergoing hospital tests on Thursday night and is responding well to antibiotics.
Brazil's consumer prices rose slightly more than expected in the 12 months to mid-March, statistics agency IBGE said on Friday, further dashing expectations that the country's central bank might ease monetary policy soon.
Brazil's central bank cited rising inflation expectations as it kept interest rates unchanged for the fifth consecutive policy meeting on Wednesday, drawing concern from the government and weakening bets of imminent monetary easing.
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