Brazil’s Goldfajn to Pursue CPI Target More Strictly: Camargo
(Bloomberg) -- Ilan Goldfajn’s hearing in Senate today signals that he will be more demanding about achieving low inflation to cut rates compared with Alexandre Tombini, Jose Marcio Camargo, chief economist and partner at Brazilian investment firm Opus, says in a phone interview.
- “Our objective is to fully achieve the inflation target set by the National Monetary Council, focusing on its midpoint,” Goldfajn told senators today
- “Goldfajn will pursue the 4.5%. With Tombini, inflation remained over the target all the time,” Camargo says
- While recognizing that there’s no room to meet the target in 2016, Camargo sees Goldfajn acting more decisively to slow inflation in 2017
- DI markets project BCB to start cutting rates in July; Camargo forecast cut in September since current pressure shown by inflation is reverted
- “The BCB will cut only if he assesses that the move is compatible with inflation at 4.5% next year”, said Camargo, a professor at PUC, a university in Rio where Goldfajn got his master’s degree in economics
Alert:
HALISTER1Source: BFW (Bloomberg First Word)
People Alexandre Tombini (Financial Stability Board)
Ilan Goldfajn (Banco Central do Brasil)
Jose Camargo (Opus Gestao de Recursos Ltda)
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