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Battle Over Fuel Prices Continues

  • In an extension of the battle over domestic fuel prices, Bolsonaro is to do everything in his power to help Petrobras understand their role in society – stopping short of formal interference. As a result, Bolsonaro said his government expects a reduction in fuel prices, or a lawsuit will follow.
  • According to O Estado de S. Paulo, Petrobras have denied local reports that the company have been in talks with the regulator Cade about a switch to their pricing policy. The company also denied that they’re violating Brazil’s economic order.
  • The Brazilian central bank have formally announced that they are to ease their capital requirements for credit risk – a move that should free up BRL 3.8bln in liquidity. The new rules would result in a change to risk weightings and smaller capital requirements for exposure deemed less risky. The BCB added that the rule switch would be inline with Basel III.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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