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Brazil central bank to remain vigilant on inflation after missing 2022 target -governor

Wednesday, January 11, 2023
Brazil central bank to remain vigilant on inflation after missing 2022 target -governor © Reuters. FILE PHOTO: People walk in front the Central Bank headquarters building in Brasilia, Brazil March 22, 2022. REUTERS/Adriano Machado

BRASILIA (Reuters) - Brazil's central bank chief Roberto Campos Neto said on Tuesday that policymakers have taken the necessary steps to ensure inflation reaches its targets until 2025, reinforcing they will remain vigilant to see if keeping interest rates at the current 13.75% level for long enough will ensure such convergence.

In an open letter to justify 2022 inflation at 5.79%, above the government's target of 3.5% and the top 5% of its tolerance band, he said the inertia from 2021 inflation and higher commodity prices were important factors, also mentioning imbalances between demand and supply, shocks in food prices and recovery in services and employment.

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28-09-2023 02:30:29 (UTC+7)

EUR/USD

1.0512

-0.0058 (-0.55%)

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EUR/USD

1.0512

-0.0058 (-0.55%)

Summary

Buy

Moving Avg:

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1.2144

-0.0013 (-0.11%)

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USD/JPY

149.55

+0.51 (+0.34%)

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AUD/USD

0.6359

-0.0037 (-0.58%)

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Moving Avg:

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 EUR/USD1.0512Buy
 GBP/USD1.2144↑ Buy
 USD/JPY149.55↑ Sell
 AUD/USD0.6359Buy
 USD/CAD1.3504Buy
 EUR/JPY157.22Buy
 EUR/CHF0.9673↑ Sell
 Gold1,894.35↑ Sell
 Silver22.808Neutral
 Copper3.6452Neutral
 Crude Oil WTI93.80Neutral
 Brent Oil94.39Neutral
 Natural Gas2.896Neutral
 US Coffee C148.75↑ Sell
 Euro Stoxx 504,131.65↑ Buy
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 DAX15,217.45↑ Buy
 FTSE 1007,593.22↑ Buy
 Hang Seng17,552.50Neutral
 Small Cap 20001,781.15↑ Buy
 IBEX 359,331.90↑ Buy
 BASF42.280Neutral
 Bayer45.72↑ Sell
 Allianz226.95↑ Sell
 Adidas157.62Buy
 Lufthansa7.653Sell
 Siemens AG134.20↑ Sell
 Deutsche Bank AG10.342↑ Buy
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