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Fiscal Framework in Focus, as Haddad Looks to Expedite the Process

BRAZIL
  • Fiscal framework is still a focus for local media, with Globo reporting that Finance Minister Haddad is to reinforce his presence in the policy-making process in order to push the benchmark fiscal framework through the negotiation phase.
  • Late on Friday, BCB's Neto stated that high levels of public debt across Brazil were largely responsible for the requirement for tight interest rate policy - in an interjection seen countering President Lula's desire for easier policy in the short-term.
  • According to a company filing posted Sunday, Petrobras are to analyze changes in diesel and petrol pricing policy this week - and pledged to disclose material details to the market "in due course". The filing follows Lula's pledge to protect Brazilian consumers from the volatility in international oil prices.
  • The BCB focus survey crosses later today at 0825 local time (1225BST).

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