Brazil
Brazil ramps up FX interventions to defend real
Governor Campos Neto says fall “is not justified by fundamentals”
Brazilian congress passes central bank autonomy law
Law gives CBB autonomy and sets renewable four-year terms for governor and MPC members
Brazil’s inflation still above target in January
Early reading recorded at 4.3%, adding pressure to tighten policy
Brazil’s MPC removes forward guidance
Rate-setting committee forecasts it will raise policy rate by 125bp during 2021
Brazil central bank could ‘test’ lower rates if inflation remains weak – IMF
IMF staff see “no constraint” to lower rates as long as forward guidance is deployed
Brazil launches instant payments platform Pix
Central bank governor says new system aims to foster competition and integration
Brazilian Senate passes bill increasing central bank independence
Legislation still needs to be approved by the lower chamber of Congress
Brazilian central bank interrupts rate-cutting cycle
Monetary policy committee says space for further monetary stimulus “should be small”
Central Bank of Brazil launches climate change agenda
Proposals include creation of sustainable liquidity facility and adding climate factors to reserves management
Brazil launches new 200 real banknote as hoarding continues
New banknote worth $37 features new security features, and has been sized to ensure quick dispersal
Central Bank of Brazil forms CBDC working group
Report by commercial bank warns that Brazil faces strong structural obstacles to CBDC
Brazil plans new note as cash demand hits record high
Central bank will introduce 200 real banknote as Brazilians start to hoard cash
Brazil’s central bank cuts rates to record low
MPC says there is limited space for more monetary policy stimulus as crisis continues
Coronavirus panic fuels a surge in cash demand
Covid-19 has led to banknote hoarding in Australia, Brazil, Canada, the eurozone, Russia and the US, fuelled by concerns about financial system stress, write Jonathan Ashworth and Charles Goodhart
Brazil suspends WhatsApp payments
Facebook’s app had launched digital payments in Brazil on June 15
Brazil close to limit of monetary easing – minutes
Rate-setters stress new interest rate cuts could imperil financial stability
Brazilian central bank cuts rates to record low
MPC says “remaining space for monetary policy stimulus is uncertain”
Trends in reserve management: 2020 survey results
Covid-19 expected to dent the risk appetite of central bank portfolio managers; socially responsible investing gains ground
Fears rise over breakdown in Basel and IFRS standards
Bretton Woods institutions worried about growing divergence in capital and accounting standards as credit impairment tsunami looms; US and many emerging economies skirting the rules
Central banking enters a new era
Central banks face a delicate balancing act to preserve their reputations as they evolve into ‘buyers of last resort’ and some of their actions appear functionally equivalent to ‘monetary financing’
Bond purchases will not imperil independence – Brazilian governor
Roberto Campos Neto stresses temporary asset purchases face strict limits
Campos Neto on reforming Brazil’s economy amid Covid-19 distress
The Central Bank of Brazil governor speaks about how Brazil is managing fallout from the coronavirus pandemic, the benefit of large reserves, his plans to deploy emergency asset purchases and why he favours extending the IMF’s SDR funding
Brazil changes law to allow QE amid chaotic response to virus
Finance minister says central bank will “shower” country with liquidity if needed
Colombia reduces rates as economy faces sharp recession
Central bank reduces rate by 50 basis points to 3.25%, GDP expected to fall by 10% in Q2