Brazil

Brazil's Meirelles says inflation 'stubborn'

Brazil's central bank governor Henrique Meirelles said in a Reuters interview on Monday 2 June that last year's collapse in the value of the real has left stubborn inflationary pressures with prices failing to adjust domestically after the fall in the…

Copom blames inflation for interest rate inaction

The central bank of Brazil said on Thursday 29 May that its decision to hold interest rates last week was down to "persistent inflation". AEBrazil reported that minutes released by the bank said it is premature to conclude that inflationary pressure has…

Brazil's central bank head of economics resigns

The head of economic policy at Brazil's central bank, Ilan Goldfajn, resigned on Thursday 22 May, according to Associated Press, but denied the decision had anything to do with criticism the bank received at not cutting interest rates earlier in the week.

Ex-central banker Fraga takes wheel of a cab

Former president of the central bank of Brazil Arminio Fraga has recently appeared on Brazilian television in a comedy sketch playing a taxi driver who likes to voice his opinions on the economy, according to a Bloomberg report

Brazil central bank under pressure to cut rates

Several of Brazil's top government officials have echoed the call of industry bosses for a cut in the central bank's prime interest rate from 26.5 per cent, according to a report in the Financial Times. In what was described as an unusually harsh tone,…

Brazilian bill paves way for central bank autonomy

A bill was approved on Thursday May 15 which allows changes to the legal framework of Brazil's financial system and could see more autonomy for the central bank, according to a Reuters report. The vote, which was carried with a 97% majority in favour,…

Brazil's Copom resisted April rates cut

Minutes of Brazil's central bank Copom meeting released on Friday 2 May showed that the bank resisted cutting interest rates in April as although inflation slowed in March, it failed to ease at the pace predicted, according to AE Brazil.

Brazil real gains on central bank reform hopes

Increasing optimism that Brazil's central bank will gain greater independence pushed the real up against the dollar in trading, says the Financial Times. The legislation to be presented Wednesday is the first of a series of radical reforms designed to…

Central Bank of Brazil COPOM Minutes

The Banco Central Do Brasil has published the minutes of the 82nd meeting of the Monetary Policy Committee (COPOM), 18 and 19 March. The Copom decided to maintain the Selic rate at 26.5%. However, the committee said that there are considerable risks to…

Battle over Brazil central bank's autonomy

A battle may develop over the central bank of Brazil's moves towards independence, according to a report by United Press International. The party of President Lula is trying to push through a bill in support of central bank autonomy. But about half the…

Good times - so far - for Meirelles in Brazil

Henrique Meirelles, who took over as governor of the Central Bank of Brazil in January, discusses with the Financial Times the changes from his time on Wall Street to spearheading monetary reform in Brazil. Though the monetary policy medicine appears to…

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