Central Bank President says that the institution “continues to navigate in an environment of great uncertainty”
the president of BC (Central Bank), Roberto Campos Neto, said this Monday (5.Sep.2022) that he does not intend to reduce interest at this time, contrary to the expectations of the financial market. He made the statement during a lecture at the 22nd edition of “Value 1000 Award”from the newspaper Economic value.
“In Brazil, as we started to rise before and made a stronger rise, there is an understanding that basically the work is already done and that we have a pricing, that is, a market waiting for a drop in interest rates. We have communicated that we do not think about a drop in interest rates at this time. We think about finishing the job. Finishing the job means converging inflation.”declared.
On the global stage, the market expects interest rates to rise, according to Campos Neto. “The market still expects the interest rate hike to continue, especially in the US. The market has the understanding that central banks still have a lot of work to do.”he said.
Roberto Campos Neto also said that BC “continues to navigate in an environment of great uncertainty”mentioning Auxílio Brasil and taxes in 2023.
“There is a great degree of uncertainty about the part of the tax return, how it will happen. The aid part, how will it be financed, the municipalities part, how will this problem be solved”declared.
The president of the Central Bank said that the 1.2% growth of the Brazilian economy in the 2nd quarter “surprised”. He also stated that there is a possibility of reviewing the national GDP (Gross Domestic Product) figures “up growth”.
“With employment up, inflation down, growth being revised upwards and this fiscal part with a number that surprised for the better, I would say it was a favorable macroeconomic scenario”continued.
According to him, only Brazil is going in that direction, which, in his view, “impacts the Latin America and the rest of the countries and regions with downward revision”.
AWARDED
Here is the list of the 27 companies awarded by the Economic value:
- Company Value 1000 – Fleury;
- Agribusiness – Coamo Agroindustrial Cooperative;
- Water, Sanitation and Environmental Services – Sabesp (São Paulo Basic Sanitation Company);
- Food and drinks – ambev;
- Bioenergy – Saint Martin;
- Retail business – Assaí Wholesaler;
- Wholesale and Foreign Trade – live;
- Construction and Engineering – Elecnor do Brasil;
- Education – yduqs;
- electronics – whirlpool;
- Real estate developments – Syn Prop & Tech;
- Electricity – Copel;
- Pharmaceuticals and Cosmetics – Roche;
- Fashion Industry – Arezzo;
- Construction and Finishing Materials – LafargeHolcim;
- mechanics – WEG;
- Metallurgy and Siderurgy – CSN;
- Mining – OK;
- Paper And Cellulose – suzano;
- Oil and Gas – shell;
- Plastics and Rubber – Tiger;
- Chemicals and Petrochemicals – Braskem;
- Specialized services – B3;
- Medical services – Fleury;
- IT & Telecom – Tim;
- Transport and Logistics – locate;
- Vehicles and Parts – Randon;
- Banks – Itaú Unibanco.
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