Brazil
Brazil central bank faces contradictions in global economy's 'new reality'
The Central Bank of Brazil resorts to forex intervention, as it finds itself fighting a weakening currency alongside weak growth and inflation straining at the top of its target band
Brazilian governor expects inflation drop
Alexandre Tombini says inflation spiked in last six months because of agricultural shocks, but it will resume a downward trend in 2013
Brazil increases gold holdings by 90% in three months
Central Bank of Brazil adds 31.9 tonnes of gold to its reserves between September and November; could indicate a desire to diversify away from the dollar
The ghost at the IMF’s Tokyo feast
Robert Pringle looks back at the main themes of the IMF’s annual meeting, which was held in October in Tokyo, and forward to prospects for 2013
Bundesbank at odds with new IMF position on capital controls
Board member says capital controls should be last resort, if used at all; follows updated IMF guidance that capital controls can have ‘substantial benefits’ when used properly
IMF research highlights financial vulnerabilities in Latin American corporates
Working paper suggests booms may lead to over-leveraged non-financial firms, which could in turn transmit shocks into other sectors of the economy
Asia can ease collateral squeeze, says Clearstream chief
The global thirst for high-grade collateral resulting from OTC clearing will require Asia to play a greater role in future, according to Jeffrey Tessler, chief executive of Clearstream
Banks take advantage of Brazil’s geography, says paper
Fractured market structure allows banks to hold monopoly power and charge higher loan rates in smaller areas
Bernanke plays down emerging market impact of QE
Fed chairman says negative impact of quantitative easing on emerging markets is offset by a stronger US economy. But countries such as Brazil have had to take action to protect their currencies
Brazil second in world for non-cash payments
World Payments Report reveals Brazil is second only to the US for volume of non-cash payments; use of electronic and mobile payments shows ‘exponential growth’
Conundrum facing reserve managers set to continue, say Nalm speakers
Central bank reserve managers to face further challenges about where to allocate their resources as reserve levels look set grow
Central Bank of Brazil cuts rates as uncertainty persists
Monetary policy committee votes unanimously for 50-basis-point rate cut; further reductions remain a possibility
Central Bank of Brazil celebrates Olympics handover with new coins
Two commemorative coins released this month in honour of the arrival of the Olympic flag in Brazil; images symbolising London and Rio de Janeiro feature in the designs
ECB paper warns of capital control externalities
Working paper examines spillover from tax on capital inflows into Brazil; identifies significant direct impact amplified by signalling effects
Central Bank of Brazil paper develops systemic risk indicators
Working paper suggests quantitative measures of systemic risk in Brazil that could be used by prudential regulators to determine when to intervene
Central Bank of Brazil staff strike over pay
Central bankers join widespread Brazilian public sector strike in run up to passage of government budget; lower-level employees walked out with no impact on functioning
Brazil updates 10 and 20 real banknotes
Central Bank of Brazil releases latest new notes into circulation; total overhaul of currency underway to incorporate advanced security features
Brazil and South Africa agree supervisory co-operation
Central Bank of Brazil and South African Reserve Bank sign MoU to promote banking supervision; clears the way for domestic banks to build businesses in both markets
Brazil and China agree currency swap and deepen cooperation
Central Bank of Brazil announces agreement with China Banking Regulatory Commission to enhance exchange of information; governments agree to currency swap
Former Brazilian governor takes additional advisory role
Henrique Meirelles appointed as senior adviser at Kohlberg Kravis Roberts; adds firm to a substantial list of board positions and advisory roles
Brazil’s Tombini seeks appointment of new director
Governor of the Central Bank of Brazil nominates candidate to become director of special affairs; former governor Henrique Meirelles announced as chairman of Lazard Americas
Central Bank of Brazil offers boost to auto industry
Reserve requirements for loans on automobile projects reduced; move releases R$18 billion for use in offering credit for vehicle purchases
Brazil to reveal rate-setters'votes
Central bank board approves amendments to law governing the institution aimed at increasing transparency; quarterly inflation report also to begin being published
Central Bank of Brazil blasts report of lost autonomy
Brazilian governor Alexandre Tombini defends central bank in the face of a newspaper article claiming the institution has lost its autonomy