Free Trial

MNI BRIEF: Brazil Service Inflation Data Worsens - Campos Neto

Recent Brazilian services inflation data was “marginally worse”, central bank Governor Roberto Campos Neto said on Wednesday, adding that it is still unclear whether monetary policy will continue with a smooth trajectory during the “last mile” of its fight to lower inflation.

But the fastest-rising components of services inflation, including the cost of financial services, are not indicative of wages inflation, Campos Neto said at an event sponsored by members of the Brazilian Congress.

“The latest data on service inflation was marginally worse,” he said, adding “We don’t have enough data to conclude that we will cover this last mile in a linear fashion or whether there will be moments of slower convergence." (See MNI INTERVIEW: Copom At Ease With Market Rate Pricing-Kfoury)

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.