Brazil Aims to Continue Interest Rate Cuts, Reach 12% or Less By End of 2023

Brazilian government expects at least 50 basis point cuts in interest rates over remaining meetings this year.
Aims to end 2023 with interest rate below 12%.
Central bank cut rates by 50 basis points to 13.25% last month, starting easing cycle.
Minister voiced support for formal autonomy of central bank.
Minister expressed confidence in eliminating primary budget deficit by 2024.

reuters.com

Relevant topic timeline:

8/21/2023

China Cuts Key Interest Rate Again as Property Slump Spreads

China's central bank has cut the main benchmark interest rate in an attempt to address falling apartment prices, weak consumer spending, and broad debt troubles, but the reduction was smaller than expected, signaling the potential ineffectiveness of traditional tools to stimulate the economy.

8/25/2023

Fed Chair Powell could signal the likelihood of high rates for longer in closely watched speech

Federal Reserve Chair Jerome Powell is expected to signal in his upcoming speech that the Fed plans to maintain its benchmark interest rate at a peak level for a longer period than anticipated, suggesting that any rate cuts are unlikely until well into next year, as the central bank aims to further slow borrowing and spending to reduce inflation.

8/25/2023

Brazil’s Inflation Speeds Past Forecasts After Key Rate Cut

Brazil's annual inflation accelerated more than expected in August, reaching 4.24%, as the central bank continues to cut interest rates in its efforts to boost the economy.

9/11/2023

Fed Expected to End Rate Hikes in 2023, Begin Cuts in 2024 as Growth Slows and Inflation Eases

The Federal Reserve is expected to cut interest rates by about one percentage point next year as economic growth slows and unemployment rises, according to chief economists at major North American banks.

9/12/2023

Brazil Inflation Slows in August, Strengthening Case for Interest Rate Cut

Brazil's annual inflation in August was lower than expected, giving the central bank more leeway to extend interest rate cuts at their upcoming policy meeting.

10/7/2023

History Shows Rate Cuts During High Inflation Can Worsen Housing and Job Markets

The Reserve Bank of Australia (RBA) may cut interest rates in the second half of 2024, according to major bank economists, but the interest rate futures market does not anticipate any rate cuts until March 2025; historical data suggests that rate cut cycles following periods of high inflation have led to varying impacts on housing prices and unemployment, and it remains to be seen how the current economic conditions will affect these indicators.

10/9/2023

RBI Rate Cut Pushed Back to 2024 as High Inflation Takes Priority

Economists are adjusting their expectations for a rate cut in India to beyond the first quarter of fiscal year 2025, following a hawkish policy stance from the Reserve Bank of India (RBI) that emphasizes a 4% inflation target.

Topics

Posted 9/12/2023, 6:24:00 PM

Brazil Aims to Continue Interest Rate Cuts, Reach 12% or Less By End of 2023

Brazilian government expects at least 50 basis point cuts in interest rates over remaining meetings this year.
Aims to end 2023 with interest rate below 12%.
Central bank cut rates by 50 basis points to 13.25% last month, starting easing cycle.
Minister voiced support for formal autonomy of central bank.
Minister expressed confidence in eliminating primary budget deficit by 2024.

reuters.com

Relevant topic timeline:

8/21/2023

China Cuts Key Interest Rate Again as Property Slump Spreads

8/25/2023

Fed Chair Powell could signal the likelihood of high rates for longer in closely watched speech

8/25/2023

Brazil’s Inflation Speeds Past Forecasts After Key Rate Cut

Brazil's annual inflation accelerated more than expected in August, reaching 4.24%, as the central bank continues to cut interest rates in its efforts to boost the economy.

9/11/2023

Fed Expected to End Rate Hikes in 2023, Begin Cuts in 2024 as Growth Slows and Inflation Eases

9/12/2023

Brazil Inflation Slows in August, Strengthening Case for Interest Rate Cut

Brazil's annual inflation in August was lower than expected, giving the central bank more leeway to extend interest rate cuts at their upcoming policy meeting.

10/7/2023

History Shows Rate Cuts During High Inflation Can Worsen Housing and Job Markets

10/9/2023

RBI Rate Cut Pushed Back to 2024 as High Inflation Takes Priority