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Givernor Campos Neto: Our Strategy Is Key To Anchor CPI Estimates

BRAZIL

Comments from Brazil Central Bank Governor Campos Neto:

  • We work in an autonomous way
  • Rate hike not linked to bank autonomy
  • Bolsonaro never questioned rate hike
  • Growth in Jan., Feb. was stronger than expected
  • Covid vaccine can help economy reopen
  • Our 1H outlook is relatively more pessimistic
  • We recognize short-term CPI is high
  • Large part of CPI pressure is temporary
  • Commodities have driven CPI higher
  • We won't get back to neutral rate now
  • Economy needs 'partial' normalization now
  • We are not 'behind the curve'
  • Our strategy is key to anchor CPI ests. (all bbg)

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