Free Trial

BCB's Galipolo Says Services CPI Grants Caution, Activity Resilient

BRAZIL
  • BRAZIL'S GALIPOLO SAYS SERVICES CPI GRANTS CAUTION (BBG)
  • BRAZIL CENBANK IS ANALYZING SERVICE SECTOR CPI IMPACT (BBG)
  • A few additional headlines from BCB’s Galipolo via Reuters:
    • Activity and labor market remain resilient, with inflation performing well
    • Trade balance continues to perform well despite China’s slowdown
    • US-Brazil interest rate differential is approaching a relatively low region
    • When compared with available investment alternatives, we hear that the carry-trade is still positive, there is still an attractive differential for Brazil
    • We do not pursue any level for the exchange rate, it is floating and we are happy with this regime
    • So far it is possible to say that our forward guidance has collaborated to less volatility
    • We have been taking advantage of the fact that it was possible with current easing pace to adjust monetary policy and gain time to analyse future developments
    • There is room for us to make this adjustment while gathering data to determine our route
    • Above all we are data-dependent (Reuters News)

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.