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BCB Prepared For Election Volatility, Bolsonaro Travels To Russia

BRAZIL
  • Central Bank’s basic scenario is that the peak of inflation will occur between April and May, considering higher oil prices, BCB Governor Campos Neto remarked, adding that the scenario has upside risks, such as the maintenance of the scarcity flag applied to power rates.
  • Central Bank is prepared for volatility scenarios in the election year.
  • Campos Neto also said he will stay until the end of his term to make sure that the representation that the Central Bank has gained has solidified.
    • Autonomy was made in this government, because no government ever wanted to give up the Central Bank, he said. (BBG)
  • The plane of Brazil’s President Jair Bolsonaro took off Monday evening headed to Russia despite Western warnings the country could soon invade Ukraine — frustrating those who have suggested he cancel the trip, including the U.S. government and members of his own Cabinet. (AP)
    • Bolsonaro is also scheduled to pay an official visit to Budapest on Thursday, the prime minister's press chief said, adding that talks with Prime Minister Orban and President Janos Ader are on the agenda.
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