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Campos Neto Speaks At Event, Valor On Inflation Target

BRAZIL
  • BCB President, Roberto Campos Neto reiterated his hawkish stance by saying the bank need to persevere in the inflation fight and that core inflation remains very high. Campos Neto stated that the economy is resilient, especially the labour market and that the inflation target has served us well. The underlying hawkish stance of the central bank will play counter to the more optimistic news this morning from the focus survey, whereby 2023 IPCA inflation expectations came down by an impressive 0.23% from last week.
  • Campos Neto speaks at an event about central bank autonomy hosted by newspaper Folha de S. Paulo at 10am local time, in Sao Paulo.
  • Valor reported earlier on Monday that the government is studying a way to make BCB’s CPI target more flexible, without mentioning the source of the information. According to the newspaper, the idea is that policymakers should have a longer time horizon to pursue a fixed goal.
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