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BCB Directors Meet Bankers, Bolsonaro on Public Wage Hike

BRAZIL
  • Brazil’s government is suggesting a 5% hike in wages for all public servants, President Jair Bolsonaro says during a live on social media, adding the percentage is not yet set in stone.
    • Salary hikes would add more over 7b reais to the federal budget, according to Bolsonaro.
    • Government is expected to meet union representatives to reach an agreement.
  • Central bankers speak to market participants in behind closed doors meetings, with Monetary Policy Director Bruno Serra talking to Nubank CRO Henrique Fragelli at 10am and Bradesco Chief-Economist Fernando Honorato at 11am. Later on Friday, he sits down with Blueline Asset Chief-Economist Fabio Akira at 3pm.
  • Economic Policy Director Diogo Guillen also has meetings with market agents, starting with Truxt Investimentos at 10am, Ibiuna Investimentos at 11am, Panamby Capital at 3pm and JGP at 4pm.
  • Poder360 reported that privatization of Brazil’s biggest electricity company Eletrobras is set to happen June 13 with a road show starting next week; traders will keep an eye on the process, which may still face several blocking attempts as most leftist parties are against the sale.
  • Brazil Communications Minister Fabio Faria, through his Twitteraccount, confirmed that Elon Musk will be in Brazil this Friday.
    • Faria says Musk will talk with Brazilian government about connectivity and protection of the Amazon forest.
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