Brazil’s IPCA consumer price index accelerated 0.25 percent in August, pushed by strong energy price increases during the period, the IBGE statistics institute reported. The surge in inflation put 12-month inflation at 6.51%, just above the country’s 6.5% target ceiling, The IBGE said that in addition to energy prices, housing, transportation, education and health care costs also…
BRF Agrees To Sell Dairy Unit To Lactalis For $800 Mln
by BCR Staff •
Brazilian food company BRF signed an agreement with Lactalis subsidiary Parmalat on the sale of its dairy unit for $800 million, the company said in documents filed with the CVM securities exchange. The deal, if approved by Brazilian anti-trust regulator Cade, would involve 11 dairy facilities operated in the states of Pernambuco, Paraná, Minas Gerais, Mato Grosso…
Central Bank Holds Selic Rate Unchanged At 11%
by BCR Staff •
Brazil’s central bank monetary policy committee Wednesday held the country’s base Selic interest rate unchanged at 11% for a third straight meeting despite still elevated local inflation. The decision came as Brazil’s IPCA consumer price index through July ran near the 6.5% top end of the country’s inflation targeting band. The latest decision to hold…
Ibope: Rousseff Gains Ground, But Still Behind For Runoff
by BCR Staff •
Brazil’s president Dilma Rousseff gained back terrain in a national presidential election poll released Wednesday, but still trails Socialist Party challenger Marina Silva in a runoff vote scenario. The latest poll from the Ibope opinion research institute showed Ms. Rousseff, of the Workers’s Party, with support from 37%, versus 33% for Ms. Silva. Challenger Aécio…
Rousseff Says She Will Change Policies, Aides If Re-elected
by BCR Staff •
Brazil’s President Dilma Rousseff will make changes in her government’s policies and advisory team if re-elected to the post, the president said Wednesday. Speaking to business leaders at the National Confederation of Industries, Ms. Rousseff re-iterated a previous pledge to overhaul her administration to improve industrial policies.”Obviously, with a new government, there’s necessary updating and new…
Brazil Sells $1Bln in 2025 Bond Reopening
by BCR Staff •
Brazil’s government sold $1 billion in dollar-denominated debt abroad with the reopening of its 2025 bond, the treasury said Wednesday. The debt was sold in US and European markets with a yield 3.888% and a spread of 147 basis points over US Treasurys. The Brazilian treasury said it could sell up to $50 million in…
Polls Show Marina Silva Leading In São Paulo, Rio
by BCR Staff •
Socialist Party presidential challenger Marina Silva has pulled into the lead in the heavily populated states of São Paulo and Rio de Janeiro, according to the latest polls in those regions. Polling from the Ibope opinion research institute showed Ms. Silva with support from 39% of respondents in São Paulo, compared with 23% for incumbent…
Government Postpones Energy Auction Until After Election
by BCR Staff •
Brazil’s government will postpone a planned auction of electric power to November 28 from September 30, the Energy Ministry said. According to a statement issued by the ministry, the date for the so-called A-5 auction was altered to allow for licensing and participation of 460 megawatts of hydroelectric power sources as well as participation of wind power…
Industrial Output Rises In July, Breaking 5-Mo Slump
by BCR Staff •
Brazil’s industrial output rose in July, countering a trend of declines seen in the previous five months. The IBGE statistics institute reported industrial production rose by 0.7% during the month, but was still 3.6% lower than the same month a year earlier. Capital goods production rose 16.7% from the previous month, but fell 6.4% from…
Candidates Focus Debate On Economy; Rousseff Defends Policies
by BCR Staff •
Leading presidential challengers took turns focusing attacks on the country’s recent economic performance in a second televised presidential debate Monday, leaving incumbent President Dilma Rousseff alone to defend the government’s policies. Top challengers Marina Silva and Aécio Neves questioned the effectiveness of the Rousseff administration in the face of recent poor economic data, causing the president to re-iterate the government’s claim that…
