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April IPCA-15 Inflation Data Scheduled

BRAZIL
  • In the long-awaited Focus Survey from the BCB, Brazil analysts raised their inflation and interest rate forecasts after consumer prices posted the biggest monthly surge since 2003. Analysts now see rates hitting 13.25% by year-end, despite central bank rhetoric hinting that 100bp hike next week could be the end of the current cycle.
  • Today’s mid-month IPCA data will be the last before the May 4 Copom meeting.
    • 1300BST/0800ET: April IBGE Inflation IPCA-15 M/m, est. 1.84%, prior 0.95%
    • 1300BST/0800ET: April IBGE Inflation IPCA-15 Y/y, est. 12.15%, prior 10.79%
  • Brazilian lawmaker João Roma, the rapporteur of the so-called Auxílio Brasil social aid in the country’s Lower House, is inclined to keep the program’s current value of 400 reais despite calls to raise it to 600 reais.
    • Rapporteur is assesssing feasibility of making the 400-real aid permanent.
  • Brazil Central Bank Publishes Decree Confirming New Directors:
    • Decree confirms the appointment of Diogo Abry Guillen as director of Economic Policy and Renato Dias de Brito Gomes as director of Organization of the Financial System.
  • Two of Brazil’s largest commodities firms release 1Q22 numbers after the markets close on Wednesday, with Vale reporting its financial performance a week after disclosing a quarterly iron ore output that missed analysts’ estimates. Petrobras, in turn, is expected to share its sales and production figures for the period.
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