Economic news

Brazil finance minister says he trusts central bank officials ahead of rate decision

2024.09.04 09:07

BRASILIA (Reuters) – Brazil’s Finance Minister Fernando Haddad said on Wednesday that he trusts central bank officials when asked about the prospect of an interest rate hike at the upcoming monetary policy meeting this month.

In an interview with GloboNews, Haddad noted that it would not be “elegant” for him to comment on what the central bank should do.

Policymakers will meet on September 17-18, and bets on an interest rate hike have increased after second-quarter data showed stronger-than-expected economic growth.

The central bank has kept the benchmark rate steady at 10.5% since June, but warned in July that it would not hesitate to raise borrowing costs if needed amid a more challenging outlook for consumer prices.

Annual inflation hit 4.35% in mid-August compared to a 3% official target.

Amid rising social security spending, Haddad said that the government is not discussing a potential new pension reform but acknowledged there is “some discussion” about categories that were excluded from the previous reform and may eventually make their contribution.

© Reuters. FILE PHOTO: Brazil's Finance Minister Fernando Haddad attends a task force meeting of the Global Alliance against Hunger and Poverty in Rio de Janeiro, Brazil, July 24, 2024. REUTERS/Tita Barros/File Photo

When asked about adjustments to other mandatory expenses that could provide fiscal relief, such as unlinking certain expenditures from the minimum wage growth, Haddad said the government is open to discussing any topic.

“But politics has its own timing, and that requires due caution,” he said.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 60,095.10 0.43%
ethereum
Ethereum (ETH) $ 2,315.44 1.99%
tether
Tether (USDT) $ 1.00 0.06%
bnb
BNB (BNB) $ 545.81 0.37%
solana
Solana (SOL) $ 129.75 2.17%
usd-coin
USDC (USDC) $ 1.00 0.05%
xrp
XRP (XRP) $ 0.575248 2.31%
staked-ether
Lido Staked Ether (STETH) $ 2,315.95 2.71%
dogecoin
Dogecoin (DOGE) $ 0.100861 0.28%
the-open-network
Toncoin (TON) $ 5.57 0.78%
tron
TRON (TRX) $ 0.149403 0.60%
cardano
Cardano (ADA) $ 0.334585 0.29%
avalanche-2
Avalanche (AVAX) $ 23.48 2.05%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,722.59 1.95%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 59,977.07 0.30%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 0.14%
weth
WETH (WETH) $ 2,312.46 1.89%
chainlink
Chainlink (LINK) $ 10.54 1.75%
bitcoin-cash
Bitcoin Cash (BCH) $ 312.98 0.53%
polkadot
Polkadot (DOT) $ 4.07 2.48%
leo-token
LEO Token (LEO) $ 5.70 0.31%
dai
Dai (DAI) $ 1.00 0.06%
uniswap
Uniswap (UNI) $ 6.56 3.83%
litecoin
Litecoin (LTC) $ 64.14 1.02%
near
NEAR Protocol (NEAR) $ 4.06 2.76%
kaspa
Kaspa (KAS) $ 0.170651 0.88%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,420.64 2.37%
internet-computer
Internet Computer (ICP) $ 7.81 1.35%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.36 0.60%
sui
Sui (SUI) $ 1.25 8.27%
monero
Monero (XMR) $ 171.41 0.40%
pepe
Pepe (PEPE) $ 0.000007 0.91%
aptos
Aptos (APT) $ 5.97 0.20%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.15%
stellar
Stellar (XLM) $ 0.09418 1.13%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.38121 0.86%
ethereum-classic
Ethereum Classic (ETC) $ 17.93 0.83%
ethena-usde
Ethena USDe (USDE) $ 0.999677 0.04%
bittensor
Bittensor (TAO) $ 315.00 2.60%
okb
OKB (OKB) $ 38.03 0.42%
blockstack
Stacks (STX) $ 1.51 1.58%
immutable-x
Immutable (IMX) $ 1.36 4.08%
crypto-com-chain
Cronos (CRO) $ 0.079634 0.95%
aave
Aave (AAVE) $ 137.34 3.94%
filecoin
Filecoin (FIL) $ 3.49 0.47%
render-token
Render (RENDER) $ 4.75 0.13%
injective-protocol
Injective (INJ) $ 19.03 2.26%
arbitrum
Arbitrum (ARB) $ 0.513558 1.69%
mantle
Mantle (MNT) $ 0.566084 0.15%
black-agnus
Black Agnus (FTW) $ 0.000184 422.96%