By Lisa Pauline Mattackal (Reuters) - Insufficient government spending cuts, rising global interest rates and tighter liquidity place Brazil in a risky fiscal situation, a former governor of the central bank said on Tuesday. Reform efforts includin.
Reform efforts including a new fiscal framework designed to limit escalating public debt and plans for tax reform are a welcome step in the right direction, but likely insufficient, said Arminio Fraga, who helmed Banco Central do Brasil (BCB) from 1999 to 2002. "I think it would be imprudent to count on 'blue skies and good weather' going forward, sadly, we're not in a position to relax," Fraga told the Reuters Global Markets Forum (GMF).
By Lisa Pauline Mattackal (Reuters) -Maintaining privacy and increasing understanding of blockchain technology are primary issues to solve before Brazil s .
The U.S. Federal Reserve is unlikely to provide clear signals on whether it will pause interest rate hikes or consider cutting rates, barring severe economic weakness or disinflation, former central bankers said on Tuesday. Fed Chair Jerome Powell signaled that further interest rate increases were still on the table in his speech last week at the Jackson Hole Symposium despite noting that progress on inflation had been made. "If (the Fed) wants to do its job, it almost surely has to keep in the state of 'nobody quite knows whether it's paused or not'," said Raghuram Rajan, former governor of the Reserve Bank of India.