Brazilian President Michel Temer approved a new system for the calculation of the Long-Term Interest Rate (TJLP), at an extraordinary meeting of the National Monetary Council (CMN). The Council also decided to cut the TJLP from 7.5% to 7% per annum, a percentage that will run from April 1 to June 30.
On the back of improving expectations, the Getulio Vargas Foundation’s Buisness Confidence Index (ICOM) rose 3.1 points between February and March, from 82.5 points to 85.6 points – the highest level since December 2014. In relation to March 2016, the index was 15 points higher. Continue reading “Business confidence reaches its highest level since the end of 2014, reports FGV”
During February, the consolidated public sector (Central Government, States, municipalities and state organisations, with the exception of Petrobras and Eletrobras) were in deficit of R$ 23.46 billion, according to the Central Bank. Continue reading “The Brazilian Public sector suffers record primary deficit in February”
The number of people out of work in the Brazil reached record levels in the quarter that ended in February, as 13.5 million people are out of work, according to the Brazilian Institute of Geography and Statistics (IBGE). Continue reading “Unemployment in Brazil reaches 13.5 million people – the highest level since the series began”
The IBC-Br Index, a gauge that estimates GDP, published by IBGE, fell by 0.26% in January, when compared to December. Continue reading “Brazilian GPD preview puts growth in negative territory at the start of the year “
Investors are now almost certain there will be a Selic rate cut of 1% after the release of the Central Bank of Brazil’s Quarterly Inflation report.
Retail sales started the year with a fall of 0.7% by volume and 0.8% in nominal revenue, in relation to December, in seasonally adjusted terms, according to the Brazilian Institute of Geography and Statistics (IBGE). This is the second negative month for the volume of sales, after an increase of 0.9% in November last year. Continue reading “Brazilian retail sales fall by 0.7% in February; a worse-than-expected decline”