To read further, please register free and login
[s2If !current_user_can(access_s2member_level1)][lwa][/s2If] [s2If current_user_can(access_s2member_level1)]

Market Update: Brazilian Real Firms Slightly
The Brazilian real appreciated as much as 0.4% to trade around 5.3 per USD on Tuesday, as a further jump in inflation supported expectations that the central bank will deliver on its pledge to raise interest rates by another 75 basis points next month to 4.25%. Brazilian consumer inflation rose above 7% in the month to mid-May for the first time in four and a half years, well above the central bank’s year-end target of 3.75%. At the same time, the FGV consumer confidence in Brazil rose in May as households looked through the second wave of the pandemic. Meanwhile, central bank president Roberto Campos Neto said the bank will revise up its 3.5% economic growth forecast for this year towards 4%, following a surprisingly strong performance in the first quarter. He added that anticipates a huge acceleration in Brazil’s COVID-19 vaccination program in June, and noted that inflation expectations are rising due to a mix of fiscal, political and technical factors. . [/s2If]
Join Our Telegram Group