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BCB Governor Campos Neto Reiterates Pledge To Achieve Mandate

BRAZIL
  • Brazil's central bank will need to "act fast" to prevent a further deterioration of the country's inflation expectations, its President Roberto Campos Neto said.
  • "We are seeing many different inflationary shocks building on top of each other. It's very important to act fast to prevent inflation expectations from de-anchoring," Campos Neto said at an online event Wednesday organized by Credit Suisse Group AG.
  • Campos Neto added that core inflation is above where the bank would like it and political volatility around the 2022 election is also fuelling inflation expectations.
  • "We are fully independent, and we will use that independence to achieve our mandate", he said during the event. (BBG)
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