Brazil
Brazil board united on continuing easing with 50bp cuts
Deputy governor says “there is no predefined target for Selic” rate
Peru and Uruguay cut rates again
Peru’s central bank says growth forecasts are gloomy, but Uruguay hints at end to cuts
A league table for central bank hawkishness
Steve Kamin runs the numbers to assess which central banks have raised rates most aggressively
Latin America roundup: Brazil makes second 50bp rate cut
Paraguay eases rates down, while Costa Rica holds as negative inflation continues
People: July to September 2023
A round-up of central bankers in the news and on the move during the past three months
Brazilian central bank outlines CBDC project
Drex is being developed on a distributed ledger platform with smart contracts
Brazil governor promises to end high-interest rotating credit
Campos Neto tells legislators central bank achieved “soft landing” on monetary policy
Brazil split decision not a problem for central bank credibility
Central bank voted 5–4 for larger-than-expected cut
Brazil makes first rate cut in cycle
Board divides 5–4 over size of reduction, with majority backing larger 50bp option
Brazilian central bank denies censoring board members
Dispute highlights possible political divisions as president Lula appoints officials
Brazilian president’s nominees confirmed for central bank board
Observers speculate Galípolo may be next governor, while Santos is first Black board member
Brazil regulators cut off loans for environmental law violators
Resolution marks change in policy from Bolsonaro era
Brazil moves to adopt new targeting regime
National monetary council says it will aim for permanent inflation target from 2025
Latin America: Brazil holds rates despite president’s attack
Chilean board also holds policy, while Costa Rica cuts after inflation goes below target
Central Bank of Brazil gains crypto regulation powers
BCB will grant and withdraw licences, and oversee operations and management
Campos Neto repeats opposition to common currency
Digital payments have outstripped benefits of “very old idea”
Saudi Arabia in talks to join Brics bank
Gulf state would join as Shanghai-based lender increases non-dollar operations
Lula’s risky challenge to the Brazilian central bank
President can nominate board members and increase inflation target as he pushes for lower rates
Brazil’s president selects ally for central bank board
Lula has repeatedly attacked central bank independence as well as the governor
Brazilian MPC holds key rate again
Central bank warns of “lingering uncertainty” over future fiscal policy
Brazilian governor rejects senator’s rate cut ‘plea’
Campos Neto says he leads a “technical body that makes technical decisions”
China and Brazil set up infrastructure for renminbi clearing
Move comes as renminbi overtakes euro as Brazil’s second largest reserve currency
Central Banking Awards 2023 – the winners in full
Awards recognise extraordinary achievements by central banks and their partners in the past year
Brazilian MPC holds rates despite pressure
President says policy rate is “absurd” but MPC says expectations not yet anchored round targets