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MNI BRIEF: Brazil CenBank Scrutinising Wage Increases -Guillen

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Brazil's central bank deputy for economic policy, Diogo Guillen

The Central Bank of Brazil is looking "carefully" at recent data on wage increases for signs of inflationary pressure, Deputy Governor for Economic Policy Diogo Guillen said on Friday.

Wage settlements have provided real increases of around 5% as inflation has eased, Guillen noted.

"We must look at this carefully. We do not think it signifies pressure, but one must look carefully because it affects services inflation," Guillen told an event sponsored by the Brazilian Association of Publicly Traded Companies (Abrasca).

Guillen added that long-term inflation expectations remain unanchored at around 3.5%, above the 3% target. "We will continue to pursue 3% inflation, which is the mandate of the central bank," he said. (See MNI INTERVIEW: Copom At Ease With Market Rate Pricing-Kfoury)

HomepageEM Policy NewsEM Policy StoryEM BriefEM Central Bank NewsLatAmBrazil Central BankBrazilStoryRegion
HomepageEM Policy NewsEM Policy StoryEM BriefEM Central Bank NewsLatAmBrazil Central BankBrazilStoryRegion

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