Economy News

Brazil’s cenbank will resume data release next week after strike

BRASILIA (Reuters) – Brazil’s central bank said on Wednesday it would resume data release that were suspended due to a strike by its employees, including a weekly survey seen as critical for the monetary policy conduction.

The central bank’s weekly FOCUS survey compiles data from over 100 private economists for macroeconomic indicators, including inflation and interest rates.

It was last released on March 28 and will be returned to normal next Tuesday, said the central bank.

Central bank workers suspended the release of the survey and several other indicators in protest over wage demands. The strike, however, was paused on Tuesday, after the government signaled some disposition to grant salary adjustments.

In charge of an aggressive monetary tightening to curb double-digit inflation, the Brazilian central bank has repeatedly said it will consider the convergence of market expectations to the official inflation targets in its policy dosage.

Monitoring this data was seen as crucial at a time when consumer prices continue to surprise upwards, casting doubt on how far the tightening cycle would go. Rates stand at 11.75% from a 2% record low in March 2021, and policymakers had said one last hike of 100 basis points could wrap the process in May.

The central bank said that it continued to have internal access to such information despite its interruption to the general public.

Source : Reuters

Leave a Reply

Your email address will not be published. Required fields are marked *