Brazil
A Simple Model for Inflation in Brazil
RESEARCH - Working Paper No. 18 from the Bank of Brazil develops a model to investigate the transmission mechanism of monetary policy. The paper also describes the results of stochastic simulations designed to investigate the behaviour of various optimal…
IMF Establish Joint Regional Training Centre
EUROPE - The Managing Director of the International Monetary Fund (IMF), Horst Kohler, and the Minister of Finance for Brazil, Pedro Sampaio Malan, signed a Memorandum of Understanding to establish a Joint Regional Training Center for Latin America (BTC)…
Argentine plan approved by finance leaders
ARGENTINA - Argentina's Economy Minister Domingo Cavallo was in Washington over the weekend of 28-29 Apr to attend the Spring meetings of the International Monetary Fund and World Bank. He outlined what he proposes to do to put Argentina back on track to…
Brazil hikes interest rate 50 bp to 16.25 pct
BRAZIL - Brazil's Central Bank on Apr 18 said it was hiking its key Selic lending rate for the second month running to 16.25 percent from 15.75 percent, due to expected inflation pressures from a weakening currency.
Cavallo tries to ease fears over peso re-peg plan
ARGENTINA - Argentine economy supremo Domingo Cavallo is talking to Brazilian business leaders and investors on Apr 18 to try to soothe fears over his new currency plan that unnerved Brazilian markets.
Brazil's new payment system delayed to Jan 2002
BRAZIL - The Brazilian central bank late on Apr 11 said it delayed the implementation of the country's new system for payments for the banking sector to January 2002, to allow for more testing.
Inflation targeting and IMF conditionality
CENTRAL BANK RESEARCH - An IMF working paper "Inflation targeting in the context of IMF-supported adjustment programs" uses Brazil as an example how the IMF's traditional monetary conditionality should be adapted in IMF-supported adjustment programs with…
Brazil cbank forecasts inflation at 4.8% in 2001
BRAZIL - Brazilian inflation, as registered by the IPCA index, should reach 4.8 percent in 2001, above initial forecasts but within government targets, the central bank said Mar 30, 2001.
Brazil hikes rates to permit future cuts
The Brazilian central bank has pushed up interest rates to 15.75% protraying this as a defensive more, designed to allow future rate cuts
Currency crisis in emerging markets - predictable?
RESEARCH PAPER - Brazil and Argentina are among the countries most vulnerable to a currency crisis, according to a new model developed by a Dutch central bank economist which had been flashing warning signals about Turkey back in December 2000.
Brazil rates steady on slight inflation rise-cbank
Brazil's central bank decided this month to keep interest rates steady in the face of a slight rise in inflation expectations and poor trade accounts which have weakened the real currency, the bank said on Feb 23, 2001 in the minutes of its last rate…
Fraga says Brazil's economy is not overheating-pap
Brazil is not growing beyond its means, Central Bank President Arminio Fraga said in an interview published on Feb 18, 2001, just days after Latin America's biggest economy posted its fastest growth rate in five years. Official data released on Feb 14…
IMF mission to meet Brazilian ministers
An International Monetary Fund (IMF) mission that recently arrived in Brazil will meet the Brazilian Minister of Finance Pedro Malan. The IMF mission, which will stay in Brazil until Feb. 16, 2001 has planned a meeting on Feb. 14 with Martus Tavares, the…
Fraga says Brazil not that affected by US slowdown
A slowdown in the U.S. economy won't have a major impact on Brazil, in part because of the diversity of Brazil's export markets, central bank governor Arminio Fraga said Jan. 26. "Scenarios of economic deceleration, without a major crisis or anything…
Low inflation, US rates led to Brazil rate cut
Falling U.S. rates and confidence that inflation will fall to established targets this year prompted Brazil's central bank to cut interest rates for the second month running on Jan. 17, according to the minutes of the bank's policy meeting released Jan…
Brazil Central Bank sees 2001 inflation below 4%
Brazil's key IPCA inflation index will end 2001 below the government's target of four percent, the country's central bank said in its quarterly inflation report released on Dec 29.
Banco do Brasil accumulates a profit of R$919.4m
Banco do Brasil, the Brazilian central bank, accumulated a net profit of R$59.8m in November, down from R$94.7m during the same month in 1999. However, accumulated profits for the first eleven months of 2000 stand at R$919.4m, up on the consolidated…
Mercosur sets macroeconomic convergence targets
The Southern Cone Common Market, or Mercosur, on Wednesday announced macroeconomic convergence targets, including fiscal and inflationary goals, top officials said.
BCB Fraga on the list of presidential candidates
Right-wing coalition PFL party president Jorge Bornhausen named Banco Central do Brasil chairman Arminio Fraga as a candidate for the 2002 presidential elections who could achieve unanimity between the government coalition.
Brazil cbank chief loses cool in Congress hearing
Brazil's master of monetary policy, central bank chief Arminio Fraga, lost his calm demeanor for once on Tuesday in a rare outburst, slamming a left-wing lawmaker who accused the bank of not doing enough to cut interest rates.
Uruguay to see 2% growth in 2001
Uruguay's economy minister said Tuesday he expects the small South American economy to shake two years of recession and economic stagnation and grow by 2% in 2001.
Brazil delays prospectus for Bepi and BEM
After the headache caused by the problems with economic and financial evaluations, the central bank decided to wait and postponed publication of the prospectuses to contract the company that will put together the sale model and perform the financial and…
Brazil: new central bank should follow UK model
The plan for the "new" Central Bank of Brazil, elaborated by the government, is ready and will be sent to Congress at the beginning of 2001.
Fraga says Brazil inflation on target in 2001
Brazil's central bank president Arminio Fraga said on Thursday that inflation in Latin America's biggest economy was on track at 4% for 2001, despite a pending new minimum wage increase.