MNI BRIEF: US May Existing Home Sales Pace Falls 0.7% To 4.11M

MNI INTERVIEW2: Uninsured Bank Deposits Still Vulnerable-Bair

CANADA APR RETAILS +0.7%, MATCHING FORECAST, PRIOR -0.3%

MNI BRIEF: China Hopes EU To Ease Frictions Via Negotiations

MNI: PBOC Net Injects CNY8 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1196 Fri; -1.41% Y/Y

MNI: BAKER HUGHES US RIG COUNT 588; OIL RIGS 485; GAS RIGS 98

EZ/UK Bond Supply Calendar: EU Auction, BoE APF Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Minutes See BCB on Track for Another 100bps Hike

BRAZIL
  • BCB minutes from their March meeting show the bank will likely opt for another 100bps rate hike at the next meeting on May 4th, which would bring the SELIC rate up to 12.75%. The bank see inflation projections above the upper limit of the tolerance band for 2022 and around target for 2023, while the conflict in Europe adds further uncertainty to the outlook. The bank added that a significantly restrictive policy cycle is appropriate, and that they are ready to adjust the size of the cycle if needed.
  • Overnight, Valor reports that the government are to freeze around BRL 3bln in expenses from this year’s budget, and the government will struggle to meet this fiscal year’s primary result target. Forecasts cited by the paper point to a primary result of below BRL 100bln, resulting in some difficulty accommodating all expenses under the spending cap.
  • The Economy Ministry release their bimonthly 2022 budget report at 1430 local time (1730GMT/1330ET), while the BCB head Campos Neto attends a public event at 0930 local and meets with the Brazilian army commander Oliveira after the close.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.