Central Bank President says Brazil’s economy may be more open in second semester

RIO DE JANEIRO, BRAZIL – According to Roberto Campos Neto, the progress of vaccination in the country and the fact that the economy is learning to cope with the pandemic will
help this openness.

Central Bank (BC) president Roberto Campos Neto on Tuesday said that Brazil will be “able to open its economy more widely in the second half of the year.”

He said the progress of vaccination in the country and the fact that the economy is learning to cope with the pandemic will help this openness. He also stressed that there is currently a vaccine surplus abroad.

The statements were made in English during an online event about monetary policy in Brazil organized by J.P. Morgan. It was the last public statement by Campos or a BC director before the period of silence preceding the Monetary Policy Committee (COPOM) meeting.

Currently, the SELIC rate is set at 3.5% a year, and the COPOM has signaled a new increase to 4.25% a year in the next meeting. The meeting will be held on Tuesday and Wednesday next week.

Source: Valor Investe

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