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Inflation Continues to Slow, Lula May Announce Some Cabinet Positions

BRAZIL
  • More positive signs on the inflation front as annual IPCA dips back below 6% for the first time since February 2021. BRL opens slightly on the backfoot, falling around 0.4%.
  • President-elect Lula is expected to announce some of his cabinet members in a press conference at the transition team’s headquarters in Brasilia at 10am local time.
    • Reports on Thursday suggested Lula plans on appointing Fernando Haddad, a former Sao Paulo mayor who’s been part of the government transition team, as his finance minister, according to three advisers familiar with the decision.
  • As a reminder on Wednesday, Brazil’s senate approved a bill that raises the public spending cap by 145 billion reais ($28 billion) for two years, making room for increased social aid. The proposal now moves to the lower house.
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