May 30, 2024

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"The central bank urgently needs to accelerate the hike in the key interest rate"

“The central bank urgently needs to accelerate the hike in the key interest rate”

Photo: Leonardo SA / Senate Agency

Fernanda Guardado, one of the managers central bank (Photo), participate in a virtual event Institute of International Finance He commented on rising inflation.

“We will do what we can to bring inflation to target.”She said.

Fernanda stated that inflationary pressure is more focused on food and electricity and acknowledged that price hikes have continued for longer than expected.

Yesterday, according to BC’s Focus Bulletin, the market rose by The twenty-seventh week in a row Inflation estimate for this year, how to register. In the past 12 months, the shortfall has accumulated by 10.25%. Target position 3.5%.

The Economist Carlos Eduardo de FreitasFormer Director of the Central Bank Discount who – which Cost inflation wants ‘marketing’. He argued that monetary authority “Needs to speed up the base rate hike urgently”.

This inflation reflects the impoverishment of society as a result of external shocks: the epidemic and the water crisis, mainly. It is not demand inflation, a wage-price spiral.”

Cobum’s next meeting, which sets the base rate for the Selic economy, will be on October 26-27. Currently, the interest is 6.25% per annum. Selic market expects to grow 8.25% annually at the end of 2021.

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