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Topic

Brazil's central bank

Brazil inflation and growth forecasts hit new highs: survey

Brazil inflation and growth forecasts hit new highs: survey

Published 31 May, 2021 07:48pm
  • The median forecast for 2021 inflation from more than 100 economists in the central bank's weekly FOCUS survey rose to 5.3% from 5.2%, well above the bank's year-end goal of 3.75% and breaching the upper limit of its wider target range at 5.25%.
Brazil current account deficit shrinks to 0.84pc of GDP, narrowest in 13 years

Brazil current account deficit shrinks to 0.84pc of GDP, narrowest in 13 years

Published 26 May, 2021 08:40pm
  • Brazil posted a $5.7 billion current account surplus in April, the central bank said, less than the $6.2 billion median forecast in a Reuters poll of economists.
  • That was largely thanks to a record goods trade surplus of $9.1 billion. Exports surged 50.7% from the same month last year, outstripping a 36.6% jump in imports.
Brazilian inflation bubbles as annual March PPI hits record 33.5pc

Brazilian inflation bubbles as annual March PPI hits record 33.5pc

Published 04 May, 2021 07:51pm
  • The annual rate of factory gate inflation in Latin America's largest economy rose to 33.5% from 28.5%, the highest level since statistics agency IBGE's data series began in January 2014.
  • The accumulated rate of inflation in the first quarter of the year was also a record for the January-March period, rising to 14.1% from 8.9% in the three months to February, IBGE said
Brazil readies another sharp rate hike, with inflation at 4-year high

Brazil readies another sharp rate hike, with inflation at 4-year high

Published 30 Apr, 2021 08:41pm
  • Inflation in Latin America's largest economy, driven by food and fuel prices, is already well above the central bank's year-end target of 3.75% and risks breaching the 5.25% upper end of policymakers' range at the end of 2021.
  • Even though the economy is losing steam due to a deadly second wave of the COVID-19 pandemic and could even slip into recession, more inflation-busting rate hikes are coming.
Brazil's 2022 inflation outlook above official goal for first time, survey shows

Brazil's 2022 inflation outlook above official goal for first time, survey shows

Published 19 Apr, 2021 05:41pm
  • The median forecast for 2022 inflation from over 100 economists in the central bank's weekly "FOCUS" survey rose to 3.6% from 3.5%. The central bank's year-end goal is 3.5%, with a 1.5 percentage-point margin of error on either side.
  • The 2021 median inflation forecast remained steady at 4.9%, still well above the central bank's goal of 3.75%.
Brazil's 2021 interest rate outlook rises to 5.25pc, survey shows

Brazil's 2021 interest rate outlook rises to 5.25pc, survey shows

Published 12 Apr, 2021 06:39pm
  • The median forecast for the benchmark Selic rate from over 100 economists in the central bank's weekly 'FOCUS' survey increased from 5.00% the week before, and 4.50% four weeks ago.
  • The 'FOCUS' survey on Monday also showed economists' average year-end inflation forecast inching up to 4.9% from 4.8%, even further above the central bank's goal of 3.75%.
Brazil March inflation 6.1pc, highest since 2016

Brazil March inflation 6.1pc, highest since 2016

Published 09 Apr, 2021 07:27pm
  • The annual rate of consumer inflation rose to 6.10% from 5.20% in February, statistics agency IBGE said, slightly below the 6.20% median forecast in a Reuters poll of economists but the highest since December 2016.
  • The central bank's year-end goal is 3.75%, with a 1.5 percentage point margin of error on either side. These figures show inflation is well above even the 5.25% upper limit of that range.
Latam FX weakens on firmer dollar, Chilean peso leads declines

Latam FX weakens on firmer dollar, Chilean peso leads declines

Published 29 Mar, 2021 08:50pm
  • The peso slipped 0.8% in early trading. Chile's central bank is not expected to move rates, with markets pricing in two rate hikes by the end of the year.
  • "The global rate-cutting cycle that occurred in the wake of the pandemic has ended and even begun to reverse," economists at Capital Economics wrote in a client note.
Brazil posts smallest current account deficit in 13 years, FDI inflows jump

Brazil posts smallest current account deficit in 13 years, FDI inflows jump

Published 26 Mar, 2021 07:39pm
  • The current account deficit of 0.48% of gross domestic product in the 12 months to February was down from 0.64% the previous month and the smallest since February 2008, central bank figures showed.
  • The current account deficit in the month was $2.3 bln, in line with the median forecast of a $2.4 bln shortfall in a Reuters poll of economists. That was down from a $4.7 bln deficit a year ago.
Brazil's 2021, 2022 interest rate outlooks shoot higher after central bank move: survey

Brazil's 2021, 2022 interest rate outlooks shoot higher after central bank move: survey

Published 22 Mar, 2021 06:54pm
  • The central bank's benchmark Selic rate is now expected to end this year at 5.50% and end next year at 6.00%, according to the average forecast of over 100 economists in the bank's weekly 'FOCUS' survey.
  • The central bank's rate-setting committee known as 'Copom' last week hiked the Selic rate by 75 basis points to 2.75%, the first increase in six years.
Brazil's real slides over 1pc; oil weighs on Colombian peso

Brazil's real slides over 1pc; oil weighs on Colombian peso

Updated 15 Mar, 2021 09:24pm
  • The real fell 1.3% too 5.629 per dollar after gaining 2.5% last week. On the year, the currency is one of the worst-performing among emerging market peers, down nearly 8% compared with a 0.6% slip in the broader EM index .
  • "The currency is over 20% cheap in real effective exchange rate terms," said JPMorgan strategists in a note.
Brazil IBC-Br economic activity index jumps 1pc in January

Brazil IBC-Br economic activity index jumps 1pc in January

Published 15 Mar, 2021 05:46pm
  • The IBC-Br economic activity index, a leading indicator of gross domestic product, rose a seasonally adjusted 1.04% in December, significantly more than the 0.4% increase forecast in the Reuters poll. It was down 0.46% versus January last year.
Latam FX surge as ebbing inflation fears boost risk appetite

Latam FX surge as ebbing inflation fears boost risk appetite

Updated 11 Mar, 2021 10:04pm
  • Risk appetite got a boost after tepid underlying consumer prices data from the United States on Wednesday eased concerns about a likely surge in inflation from large stimulus packages, which had hammered markets in recent days.
  • Brazil's central bank said it would sell up to $1 billion in currency swaps on Thursday, extending its recent intervention in the foreign exchange market to support the depreciating currency.
Brazil public sector debt rises to record 89.7pc of GDP in January

Brazil public sector debt rises to record 89.7pc of GDP in January

Published 26 Feb, 2021 05:58pm
  • The public sector surplus excluding interest payments of 58.4 billion reais was more than the 50 billion reais surplus forecast in a Reuters poll of economists, and the overall deficit in the 12 months through January was worth 9.4% of gross domestic product.
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