The financial institution won the Central Banking Awards 2022 for its data sharing project.
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The National Monetary Council and the Central Bank of Brazil changed regulation to streamline international payments and remittances.
FDI inflows in Brazil slid in both August and year-to-date, but it’s still enough to finance the current account deficit.
Spending in international trips reached USD 1.31 billion in August, down 5.24% from a year ago.
Monetary Policy Committee cut down Selic by 0.5 percentage point, to 6% per annum. Reduction is higher than forecasted by the market.
Deficit at public accounts was lower than a year ago, when it reached USD 3.6 billion.
Financial institutions expects the Selic to be reduced by 0.25 percentual point in the Copom meeting this week.
Country received USD 2.19 billion, down 68% from a year ago. Amount was not enough to cover current account deficit of USD 2.91 billion in the month.
Expenditure during international trips was up 2.44% year-on-year to USD 1.5 billion.
Minutes of its Monetary Policy Committee (COPOM)’s latest meeting show estimates for the Brazilian economy in Q2.
Surplus reached USD 662 million last month. This was driven by the trade balance, particularly agricultural exports.
Months is marked by seasonal revenues, such as income tax and oil royalties, which caused Brazilian public accounts to see a positive balance.
According to this Monday Focus Readout, Brazil’s economy is expected to grow 1.24% this year. Last projection was 1.45%.
Monetary Policy Committee minute says that indicators available suggest a significant chance that the Gross Domestic Product (GDP) have undergone a slight year-on-year reduction in the first quarter.’
