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CMN To Set 2025 CPI Goal, Campos Neto Speaks

BRAZIL
  • Brazil needs to have fiscal responsibility and only accept out-of-spending cap expenses which are “very essential” and if there’s no other alternative, Senate Head Rodrigo Pacheco said during a press conference.
    • Public spending analysis should be done with the Economy Ministry, according to Pacheco. (BBG)
  • Central bank president Roberto Campos Neto and Monetary Policy Director Diogo Guillen give press conference, 11am Brasilia time.
  • Monetary Council with Central Bank and Economy Ministry representatives, also known as CMN, is expected to set inflation target for 2025 and reaffirm 2024 goal, which is set at 3%. Council decisions to be published after market closes.
  • Inflation data for mid-June will be published tomorrow, where the annual headline IPCA rate is expected to dip to 12.01%.

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