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Free AccessBolsonaro Seeks Alternative Solution To Stabilize Fuel Prices
- President Bolsonaro is reported to have backtracked on a bill to reduce fuel prices. Dispute in the government on how to tackle the situation, is dominating local news; Valor newspaper reported Bolsonaro told his ministers to stop talking about the bill that was aimed at cutting federal taxes on diesel and cooking gas.
- Govt now considers that the best alternative is to create a fund to stabilize prices and avoid passing on the rise of international oil prices to the domestic market: Valor
- Separately, Former President Luiz Inacio Lula da Silva grants interview to Para state radio, 12pm local.
- Data released this morning:
- Inflation as measured by the IGP-M index +1.82% M/m vs 1.98% Estimate.
- Brazil Jobless Rate Falls to 11.6% in 3-Month Period Through November
- Brazil December Bank Lending Rises 1.9% M/m to 4,684b Reais
- Brazil personal loan default rate was 4.4% in Dec. (BBG)
To read the full story
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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.