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BCB Still See Inflation North of Target in 2026

BRAZIL
  • The central bank’s quarterly inflation report showed the bank sees a faster clip for growth this year, however incorporated a slowdown in activity to take hold in 2024. The bank’s forecasts show 2023 GDP forecasts upped to 2.9% from 2.0%, with 2024 growth at 1.8%. Their new 2026 inflation projection comes in at 3.1% - above the BCB target. The BCB hold a post-release press conference with the BCB chief in attendance at 11am local time (1500BST/1000ET).
  • Plenty of focus in domestic press on yesterday’s meeting between the BCB Chief Campos Neto and the President Lula, who met to “calm things down”, according to Valor sources. Finance Minister Haddad claimed the meeting was “productive and cordial”, and should lead to more regular meetings.
  • Haddad claimed no specific issues were raised at the meeting, with Lula making it clear that he respects the institution of the BCB.
  • Elsewhere, Valor write that Arthur Lira is to push forward voting on the government’s economic agenda, despite previously talking about obstruction on the matter.
  • BCB member Galipolo holds a lecture – due to start imminently.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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