20/10/2023 – 13:39
Asked during a press conference at the department’s headquarters in São Paulo about the possibility of the Broad National Consumer Price Index (IPCA) ending the year below the ceiling of the target pursued by the Central Bank, of 4.75%, the Minister of Finance, Fernando Haddad said this Friday, the 20th, that he was “very comfortable” with the prospect. On Thursday, the 19th, Petrobras announced a 4% reduction in gasoline prices which, for the market, suggests a high probability of meeting the target in 2023.
“I’m comfortable knowing that inflation will be lower, perhaps within the band or close to it. But we have to take the best trajectory possible, compose the most appropriate balance for Brazilian politics”, said Haddad.
The minister added that he considers that the evolution of the data shows that the majority of BC directors who decided on an initial cut of 50 basis points in the Selic rate were correct.
“Those people who at the time criticized the Central Bank for the 0.5 point cut today have to review their position, because, in fact, the 0.5 there was the last moment we had to start”, stated Haddad.
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