Brazil's Economy Ministry on Thursday raised its forecasts for inflation measured by the IPCA consumer price index to 7.9% this year, from 5.9% previously, and 3.75% in 2022, from 3.5% before. The ministry kept its forecasts for the expansion of gross domestic product at 5.3% this year and 2.5% next year.
Hawkish central bank minutes lifted
Chile's peso on Wednesday, while Bradespar, one of
the biggest shareholders of Brazilian miner Vale,
surged on a plan to distribute almost $1 billion in Vale ...
The Brazilian government has lowered interest rates in a subsidized mortgage program for low-income home buyers and adjusted the value of properties eligible, according to a statement on Wednesday. The measures, which will take effect in about 60 days, are aimed at increasing access to affordable housing and boosting economic growth with more support for civil construction.
Hawkish central bank minutes helped push
Chile's peso into the black on Wednesday, while Bradespar
, one of the biggest shareholders of Brazilian miner
Vale, surged on a plan to distribute ...
Brazilian Economy Minister Paulo Guedes said the government owes people a more robust social welfare program, according to remarks made Wednesday. He cautioned, however, that raising stipends of income transfer program Bolsa Familia is impossible if the government does not find a solution to finance payment around 90 billion reais in court-ordered debts.
Brazil's economic activity rose in July more than economists were expecting, a central bank index showed on Wednesday. The IBC-Br economic activity index, a leading indicator of gross domestic product, grew by 0.60% from the month before, above a forecast of 0.40% in a Reuters poll of economists.
Brazilian Treasury Secretary Jeferson Bittencourt said on Monday the government should be open to discussing alternatives other than a constitutional amendment to solve the financing for payment of court-ordered debts. Bittencourt said the value of those legal debts has grown significantly and represent a burden.
Brazilian Economy Minister Paulo Guedes on Friday said inflation is likely to finish 2022 at 5%, the upper part of a range set for next year. In an event hosted by Credit Suisse, Guedes said inflation this year should be at between 7.5% and 8%, adding he thinks price adjustments will decelerate by year-end.
Retail sales volumes in Brazil rose 1.2% in July from June, government statistics agency IBGE said on Friday, while a Reuters poll of economists forecast a rise of 0.7%. Sales jumped 5.7% from the same month a year earlier, above an increase of 3.45% predicted by economists.
Brazilian President Jair Bolsonaro on Thursday said he never intended to attack any branch of the government, comments that boosted markets as he sought to defuse a dispute with the Supreme Court.
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