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Central Bank Governor: Rate Normalization Partial As Inflation Temporary

BRAZIL

BCB Governor Campos Neto:

  • CPI rising more in emerging countries
  • We see H1 with worse effect than expected
  • Brazil 2H21 must be better with vaccine, reopening
  • Default rate seen under control
  • Optimistic with economy from now on
  • Brazil is being differentiated by fiscal cost
  • Brazil central bank to be very attentive to CPI
  • It was good to separate monetary policy from politics
  • Lack of fiscal control keeps me awake
  • Brazil needs a fiscal consolidation plan (BBG)

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