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Ex-Central banker Says BCB Far From Cutting Rates

BRAZIL
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  • Even if the new fiscal framework is well received by investors, policymakers will likely wait at least until it receives congressional approval before committing to any big move on rates, Gustavo Loyola, who ran Brazil’s central bank from 1992 to 1993 and again from 1995-1997, said in an interview this week. Loyola is currently a partner at Tendencias Consultoria.
  • - “It is too early to talk about a rate cut. We have off-target inflation and a fiscal problem that has not been resolved,” Loyola said. “We’re still a long way from a window to lower interest rates in Brazil.” (BBG)
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  • Even if the new fiscal framework is well received by investors, policymakers will likely wait at least until it receives congressional approval before committing to any big move on rates, Gustavo Loyola, who ran Brazil’s central bank from 1992 to 1993 and again from 1995-1997, said in an interview this week. Loyola is currently a partner at Tendencias Consultoria.
  • - “It is too early to talk about a rate cut. We have off-target inflation and a fiscal problem that has not been resolved,” Loyola said. “We’re still a long way from a window to lower interest rates in Brazil.” (BBG)