Brazil s Central Bank advocates fiscal austerity notwithstanding pandemic riotimesonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from riotimesonline.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
2 Min Read
BRASILIA, April 12 (Reuters) - Brazil’s central bank is making progress on plans to digitalize its currency, the real, and should have news on the matter soon, the bank’s president Roberto Campos Neto said on Monday.
In an online debate hosted by the Bank of Spain, Campos Neto said central banks around the world should deepen their discussions on digital currencies, which have common characteristics across several countries.
“We are making great progress on the digital currency process and we should have news soon,” said Campos Neto, without elaborating.
Among issues that still need to be determined are whether a digital real will be interest-bearing, and what kind of technology will be adopted, Campos Neto said.
Brazil to have news on digital currency soon msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
By Jamie McGeever
BRASILIA (Reuters) -Brazil’s central bank will continue with its “partial normalization” of monetary policy unless it sees signs of inflation and inflation expectations rising significantly, central bank President Roberto Campos Neto said on Tuesday.
Speaking in a live online event hosted by Banco Itau, Campos Neto defended the bank’s stance of beginning its policy tightening cycle with aggressive interest rate hikes so as not to end up at a higher terminal rate.
“For that to be different, we need to see a very different scenario from what we envision,” he said, citing high commodity prices in reais and fiscal premiums at the long end of the curve boosting inflation and inflation expectations.
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RIO DE JANEIRO, BRAZIL - We managed to break the dynamics of high interest rates in Brazil when we managed to show the market that we were on the path to fiscal convergence. So I think it s very much about the fiscal aspect, Campos Neto said, in an appearance at the International Monetary Fund (IMF) Spring Meeting with the World Bank, recorded on April 1st.
Again, he argued that the recent rise in inflation in Brazil is due to the growth in international commodity prices, while the real has depreciated against the dollar. Actually, the local price of commodities has . . .