|
In the minutes published today of the Central Bank Monetary Policy Committee's (COPOM) most recent meeting, held on January 17-18, the committee estimates that inflation in January will exceed expectations.
The document underscores, however, that the upward move is the result of "temporary influences," mainly the increase in fuel prices and bus fare hikes in the capital cities of Belo Horizonte (Minas Gerais), Brasília (Federal District), and Fortaleza (Ceará). "The rise in inflation at the start of 2006, as detected by various indicators, has been occurring with greater intensity than was originally anticipated," the text says. "To a great extent, the recent hike is due to temporary influences, predominately seasonal in nature, which should have an impact on inflation in the first two months of the year." The COPOM points out that this effect should decline over time, without posing a long-term inflationary risk. In the minutes, the committee reaffirms that it will continue acting to ensure that the gains "obtained up to now in the fight against inflation will be permanent." To accomplish this, it will follow closely "the evolution of inflation and the various measures of its nucleus, promptly adjusting the posture of monetary policy to the circumstances." At its most recent meeting, the COPOM reduced the annualized benchmark interest rate (Selic) from 18% to 17.25%, without bias, that is, without signaling an adjustment in either direction prior to its next meeting, scheduled for March 7. Agência Brasil
 |
Subscribe to this comment's feed
Brazil received a huge boost in its international image with its selection as the host of the 2016 Olympics, but it was really just the cherry on top of the overall recognition of the country's ascension to the ranks of one of the world's most important countries. Now, as it finally takes its place on the world scene, there has been a great deal of concern about what kind of image Brazil hopes to project, now that the world is really paying attention. 
The only good thing to say about the visit to Brazil of Iran's president, Mahmoud Ahmadinejad, on Monday November 23, is that it was mercifully short and lasted less than 24 hours. Ahmadinejad had his picture taken being hugged by president Luiz Inácio Lula da Silva who gave him a warm welcome and said Iran had every right to develop nuclear energy for peaceful purposes. 
The small, coastal town of Condé is located just a twenty minute's drive from João Pessoa, the capital of Paraíba. The Northeast of Brazil has historically been a place of encounter and mixing between peoples. For millenia groups of indigenous people fished, farmed, migrated and sometimes fought along this large, fertile area. 
The Brazilian diplo-MÁ-cia (bad diplomacy) carries on its accelerated course towards the non-acknowledgment of human rights, although sometimes it takes pleasure in saying that it does precisely the opposite. The visit of Iran's president, Mahmoud Ahmadinejad, is another example of a diplomatic omission that verges on hypocrisy. 
On July 4, 2006, representatives of Argentina, Brazil, Paraguay and Uruguay met in Caracas to sign the protocol for the entrance of Venezuela into the Southern Common Market (Mercosur). After two and a half years, the protocol was approved by the legislative bodies of Argentina and Uruguay, and as of now it may be only days away from being ratified by the continent's economic megalith, Brazil. 
Some sectors of the fight against AIDS have suggested that Thabo Mbeki, the former president of South Africa, committed genocide through his absence from the fight against the illness in his country throughout his two terms. 
One hundred and eleven years after Brazil abolished slavery, the number of workers deprived of their freedom is still huge. They raise cattle, produce charcoal, sugar cane or timber. Some of them, most undocumented Bolivians, work in basements of small apparel factories in São Paulo and other metropolis. 
On November 7, 2009 a few friends and I had an opportunity to take a look inside a Brazilian jail outside the city of Rio de Janeiro. We were able to take some amateur footage of our experience on video (see link below). It's no surprise, of course, that the typical Brazilian jail lacks some of the functionality of those in North America or Europe, but our experience that day was quite shocking. 
Depletion of the Amazon Rainforest is not a new concern facing environmentalists, biologists, ecologists, and a growing number of the Amazonian indigenous peoples. For decades they have feared for the fate of the world's most biologically diverse and species-rich hothouse. 
Geisy Arruda made history this week in Brazil, but for all the wrong reasons. What began as a poorly planned fashion statement has become a worldwide tale. Geisy decided to wear a pink mini-dress to her private college in São Paulo state, and after that, all hell broke loose.
...from 300 to 350 reais will have an inflationary effect, just as it did las year.
furthermore the inflationary effect will be multiplied, as millions and millions of salaries contracts are a MULTIPLE OF the minimum wage.
Therefore it is not only those at 1 minimum wage that will benefit from the increase BUT ALL thos on a multiple minimum wages.
The ones with 1 minimum going from 300 to 350 Reais, the ones with 5 minimums wiill go from 1500 to 1750, and the one with ten minimums from 3000 to 3500.
If that is not inflationary, please review your own history on that subject.