Brazil
Real surges as central bank announces currency swaps
Brazil has struggled with tighter financial conditions, governor Goldfajn says
Brazil’s central bank launches fintech laboratory
Central bank partners with big tech firms to help modernise how financial services are delivered
Brazil’s central bank holds rates for the first time in 13 meetings
Committee expresses concern over possible risks to inflation trajectory
People: Brazil central bank set for female deputy
Carolina de Assis Barros set to become deputy governor after reshuffle; ECB’s Euribor expert prepares for EMMI move; and more
Brazil nears end of easing cycle as rates hit fresh low
Committee signals there will likely be a pause in rate cuts soon, as inflation evolves “more benignly than expected”
Latin American markets were hit by 2010 US ‘flash crash’, DNB paper finds
Fall was driven by equities markets’ interdependence, not contagion, researcher argues
Central Bank of Brazil survey shows poor savings habits
More than half of respondents had no spare earnings over past year to put aside, which could put them at risk if “unforeseen expenses” arise
Brazilian policy rate at lowest level in 30 years
Copom expects inflation to fall to 2.9% this year
Brazil’s central bank slows pace of monetary easing
Central bank scales back cuts to 75bp with suggestion it will slow pace further moving forward; inflation continues to fall as forecast
Brazil loosens prudential regulations for non-banks
Small non-banks’ regulatory processes will be made cheaper under new legislation, while capital requirements will be reduced
Goldfajn stresses current target remains ‘credible’
Central bank pushed back against calls for the target to be raised during 2016 debate
People: Israel picks MPC members after lengthy process; Brazil promotes deputies
Bank of Israel MPC members appointed after process spanning several years; Brazil promotes internal candidates; RBA has new international director; and more
Brazil’s central bank creates DLT-based failsafe for RTGS
New system, designed as last line of defence, lacks appropriate privacy, central bank concludes; established solutions also ruled out as alternatives
Brazil's central bank ponders fintech lending regime
The central bank says digital lenders could expand credit to families and small companies
People: Ma Jun departs PBoC; Brazil promotes directors
Chief economist of the PBoC departs central bank for academia; Central Bank of Brazil gets new directors; Andrew Abir to sit on the Bank of Israel’s monetary committee
Favourable inflation prompts 100bp cut in Brazilian interest rate
Central bank continues easing cycle as political uncertainty not feeding through to inflation; analysts expect another large cut this year
Credibility essential to Central Bank of Brazil success, says IMF
Further changes to the central bank’s inflation target could limit future policy space, fund advises, praising improved transparency of communications
Brazil cuts target as inflation plummets
New target now more in line with regional peers, says finance minister; corruption charges could threaten financial stability in the long run
BIS urges policymakers to exploit ‘window of opportunity’
Financial cycles are getting close to turning in many economies and central banks and governments must make sure they are prepared, the BIS warns in its 2017 annual report
Pace of monetary easing may slow, says Central Bank of Brazil
Committee unanimously cut interest rates to 10.25%, but political uncertainty could slow the future pace of easing; economist praises approach to monetary policy communication
IMF’s Werner: Latin America must keep debt under control
Western hemisphere chief says there are some concerning signs on debt, although the risk of a systemic crisis is low; region well placed to weather Fed shock
BIS paper says macro-pru is better when partnered with monetary policy
Macro-pru does not work as well when it acts as a substitute for monetary policy when dampening credit cycles; when deployed as the main instrument, policies prove very successful even in the short term
Brazil stands out for ‘pioneering work’ in trade reporting – FSB
Peer review finds the South American nation has overcome many of the issues plaguing others, making it a leader among FSB jurisdictions
Brazil can no longer rely on consumption for growth – paper
IMF paper highlights need for Brazil to switch to investment-led growth model as infrastructure caps threaten productivity and competitiveness