Global Rubber Market News
  • Home
  • Rubber News
  • Rubber Prices
  • Analytics
  • Synthetic
  • Tire News
  • Financial
No Result
View All Result
Global Rubber Market News
  • Home
  • Rubber News
  • Rubber Prices
  • Analytics
  • Synthetic
  • Tire News
  • Financial
No Result
View All Result
Global Rubber Market News
No Result
View All Result
Home Economic, Financial news

Brazil inflation hits 2-1/2 year low; cenbank pressured to lower rates

Renton Campoy by Renton Campoy
August 12, 2024
in Economic, Financial news
0
Brazil inflation hits 2-1/2 year low; cenbank pressured to lower rates
Share on FacebookShare on Twitter

Brazil inflation hits 2-1/2 year low; cenbank pressured to lower rates
© Reuters. People are seen buying from a supply centre (CEASA) in Brasilia, Brazil May 9, 2023. REUTERS/Adriano Machado

 

MCO
+0.21%

Add to/Remove from Watchlist

Related Post

General tire launches new grabber cross a/s

General Tire Launches New Grabber Cross A/S

May 21, 2025
Bridgestone helps turn the tide in welsh river tyre clear up

Bridgestone Helps Turn the Tide in Welsh River Tyre Clear-Up

May 20, 2025

Vipal Participates in Autopromotec 2025

May 20, 2025

ETRA President Costis Keridis at TRA Briefing Day 2025

May 19, 2025

Add to Watchlist

Add Position

Position added successfully to:

Please name your holdings portfolio

Type:

BUY
SELL

Date:

 

Amount:

Price

Point Value:

Leverage:

1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000

Commission:

 

Create New Watchlist
Create

Create a new holdings portfolio
Add
Create

+ Add another position
Close

SAO PAULO (Reuters) – Inflation in Brazil continued to slow down in early May, data from statistics agency IBGE showed on Thursday, in a move that surprised markets and is likely to put more pressure on the central bank to lower interest rates.

The local IPCA-15 consumer price index reached 4.07% in the 12 months to mid-may, decelerating from 4.16% in the previous month and hitting its lowest level since October 2020, according to IBGE.

Economists polled by Reuters had forecast consumer prices to accelerate to 4.20% in the month.

The fresh figures come amid intense pressure from President Luiz Inacio Lula da Silva on the central bank to cut rates from their current six-year high of 13.75%, a level the monetary authority defends as necessary to drive inflation back to target but the leftist leader sees hindering economic growth.

“The IPCA-15 came in below forecasts, reinforcing our view that the worst of inflation is behind us and the central bank may start cutting interest rates at its August meeting,” said Jose Faria Junior, a financial planner at Planejar.

Central bank Chief Roberto Campos Neto, however, has been rebuffing the calls for lower rates by saying core consumer prices remain high while long-term inflation expectations are stuck around 4%.

On Thursday, in a pre-recorded video exhibited at an event hosted by Moody’s (NYSE:MCO), Campos Neto said the disinflation process in Latin America’s largest economy was not over yet and reiterated the importance of taking inflation back to target.

Brazil has an inflation target of 3.25% for 2023, which will be lowered to 3% in 2024.

Private economists polled by the central bank on a weekly basis currently see inflation ending this year at 5.8%, with the annual headline index gaining ground in coming months, and decelerating to 4.13% by the end of 2024.

“Policymakers will probably need to see more evidence that core inflation and inflation expectations are coming down before bringing interest rate cuts onto the cards,” Capital Economics’ chief emerging markets economist William Jackson said.

In the month to mid-May, according to IBGE, consumer prices rose 0.51%, down from 0.57% in the previous month. The index had been expected to rise 0.64%, according to the median forecast in a Reuters poll.

Source: Investing.com

Renton Campoy

Renton Campoy

Related Posts

General tire launches new grabber cross a/s
Tire Market, Tire Company News

General Tire Launches New Grabber Cross A/S

by Renton Campoy
May 21, 2025
Bridgestone helps turn the tide in welsh river tyre clear up
Tire Market, Tire Company News

Bridgestone Helps Turn the Tide in Welsh River Tyre Clear-Up

by Renton Campoy
May 20, 2025
Vipal participates in autopromotec 2025
Tire Market, Tire Company News

Vipal Participates in Autopromotec 2025

by Renton Campoy
May 20, 2025
Next Post
4 big analyst picks: NVIDIA bags 3 upgrades on strong earnings, outlook

4 big analyst picks: NVIDIA bags 3 upgrades on strong earnings, outlook

Leave a Reply Cancel reply

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

Recommended

A rubber tapper from Felda Laka Selatan, Changlun, Kedah hard at work. -- BERNAMA PIC

Brief Analysis of Natural Rubber Production in Thailand

September 20, 2024

Top-10 Rubber Producing Countries in the World 2024

May 8, 2024
Rubber price hike rejoices cultivators; irks manufactures

Japan futures dip as stronger yen, US election uncertainty weigh

November 5, 2024
Continental tyres dives in to support river clean up initiative

Continental Tyres Dives in to Support River Clean-Up Initiative

May 7, 2025

Rubber News

Rubber Market Is Expected To Trade At Equilibrium Next Week

Japan futures hit one-week high on better China data, weaker yen

November 6, 2024
Rubber price hike rejoices cultivators; irks manufactures

Japan futures dip as stronger yen, US election uncertainty weigh

November 5, 2024
In July 2024, Vietnam

Asian physical rubber prices – Oct 31

October 31, 2024
Japanese Rubber Futures Climb

Japan futures rebound on hopes of further China stimulus

October 31, 2024
Local Rubber Market Ends Mixed Amid Weaker Regional Sentiment

Japan futures hit one-month low on soft China data, trade tensions

October 30, 2024
Malaysia’s Natural Rubber Production Slides 5.2% In August

Asian physical rubber prices – Oct 30, 2024

October 30, 2024

Tire News

General tire launches new grabber cross a/s

General Tire Launches New Grabber Cross A/S

May 21, 2025
Bridgestone helps turn the tide in welsh river tyre clear up

Bridgestone Helps Turn the Tide in Welsh River Tyre Clear-Up

May 20, 2025
Vipal participates in autopromotec 2025

Vipal Participates in Autopromotec 2025

May 20, 2025
Uk tyre recyclers respond to bbc programme

ETRA President Costis Keridis at TRA Briefing Day 2025

May 19, 2025
Autogem commemorate kind hearted adam with new under pressure award

Autogem Commemorate Kind-Hearted Adam with New Under Pressure Award

May 17, 2025
Bridgestone named kwik fit supplier of the year 2024/2025

Bridgestone Named Kwik Fit Supplier of the Year 2024/2025

May 16, 2025

Other News

  • All
  • Commodity Market News
  • Economic, Financial news
Iron ore futures drop

Iron ore futures gain on expectations

March 19, 2025
South korea’s mfg buys about 137,000 tons of corn

South Korea’s MFG buys about 137,000 tons of corn

March 19, 2025
Soybeans Corn Edge Higher After Losses Us Rains To Limit Gains

Safras trims forecast for Brazil’s soy output

March 19, 2025
Gold hits new all time highs

Gold prices slightly down

March 19, 2025
Peshawar: prices of essential items remain steady

Peshawar: Prices of essential items remain steady

March 19, 2025
Oil prices tick up on us attack on houthis, china economic hopes

Oil prices tick up on US attack on Houthis, China economic hopes

March 19, 2025
Load More
Global Rubber Market News

Global Rubber Markets News, Rubber Prices Reports, Rubber Market Analytics & Outlook Reports

Rubber Prices

  • Global rubber prices reports
  • Futures
  • ASIA
  • China
  • India
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam

Rubber News

  • Global rubber market news
  • Global Rubber Analytics, Outlook
  • Global Synthetic Rubber News
  • Tire Market, Tire Company News
  • Rubber plantation

Other News

  • Commodity Market News
  • Economic, Financial news
  • Other News

© 2024 RMN - Global Rubber Markets News, Rubber Prices Reports, Rubber Market Analytics & Outlook Reports

No Result
View All Result
  • Home
  • Landing Page
  • Buy JNews
  • Support Forum
  • Pre-sale Question
  • Contact Us

© 2024 RMN - Global Rubber Markets News, Rubber Prices Reports, Rubber Market Analytics & Outlook Reports