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Guedes Says Advance Economy Central Banks Way Behind The Curve

BRAZIL
  • Inflation will keep commodity prices at high levels even as global central banks raise interest rates, says Brazil’s Economy Minister Paulo Guedes. (BBG)
    • “Central banks of advanced economies are way behind the curve,” Guedes told Bloomberg TV on Thursday evening. “Unfortunately, because inflation will stay longer than you think, commodity prices will not go down. They’ll just stop going up for a while.”
  • Datafolha poll carried out between July 27-28 shows former president Luiz Inácio Lula da Silva with 55% of voting intentions in presidential runoff against incumbent Jair Bolsonaro, who marked 35% in the survey. This was down from 57% but remains within the margin for error.
  • Brazil’s primary budget balance likely to show a deficit of 30b reais in May, according to the median estimate in a Bloomberg survey, after a surplus of 38.9b reais in prior reading. Central bank is expected to release numbers at 9:30am Brasilia time.
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