RIO DE JANEIRO, BRAZIL - Economy Minister Paulo Guedes on Tuesday said that the exchange rate has experienced what he classifies as overshooting and that the dollar rate, currently around R$5.00, should not return to its previous R$5.60-R$5.80 high levels. The exchange rate is also calming down, because we have indeed observed what we classify as overshooting. The exchange rate was at R$5.80, R$5.60, and has now recovered to R$5.00. The exchange rate will most likely not rise this high again, said Guedes, in English, at an event . . .
To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed? Login Here
RIO DE JANEIRO, BRAZIL - The Minister of Economy took part in an international conference.
Economy Minister Paulo Guedes on Tuesday, June 8, said that MERCOSUR membership has been detrimental to Brazil. In his opinion, membership to the bloc has halted the country s market expansion. Being united [in MERCOSUR] has damaged Brazil in the past 30 years. Brazil is trading less with our MERCOSUR partners today than it did 20 years ago. It was a trap. It prevented Brazil from engaging in a more productive industrial integration in global chains, he said during Bradesco BBI s online conference in London . . .
To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed? Login Here
RIO DE JANEIRO, BRAZIL - According to the Minister, once the payment of aid installments comes to an end, the government will implement a new, redesigned Bolsa Família (Family Grant).
Economy Minister Paulo Guedes said Tuesday that the government should extend the round of emergency aid payments to the most vulnerable for another two or three months, hoping to buy time to advance Covid-19 vaccination. We will possibly extend the emergency aid now, another two or three months, because the pandemic is here, Guedes said over his remote attendance at an event sponsored by the Parliamentary Front for the . . .
By Reuters Staff
2 Min Read
BRASILIA, May 31 (Reuters) - Forecasts for Brazil’s growth and inflation in 2021 have risen to new highs, a survey of economists showed on Monday, pushing the outlook for official central bank borrowing costs this year to a fresh peak of 5.75%.
The median forecast for 2021 inflation from more than 100 economists in the central bank’s weekly FOCUS survey rose to 5.3% from 5.2%, well above the bank’s year-end goal of 3.75% and breaching the upper limit of its wider target range at 5.25%.
Following a string of solid economic indicators and recent upward revisions to economists’ forecasts, the median growth forecast for the year rose to a new high of 4% from 3.5%, the survey showed.