President of British Columbia Expects 4% Inflation This Year By Agência Brazil

Goldfajn highlighted the participation of the Brazilian Seminar on Risk Rebadessment organized by the Getulio Vargas Foundation (FGV). inflation is under control and is expected to close this year at 3.94% and that the basic interest rate of the economy (Selic) has remained at its historical level of 6.5%.

Goldfajn pointed out that this scenario was reached at a time when the world and the country itself have experienced periods of turmoil. "I would say that there are three major phenomena [a se destacar]. First, the consolidation of inflation around the targets." Once inflation consolidated and expectations anchored, we had this year the satisfaction of maintaining the historical minimal historical interest rate, which is 6.5% [ao ano]. "

" This occurs in a year in which we had a relatively large challenge, with a harder external environment and a turbulent internal scenario, and given this inflation, the target and historical interest rate, we have a recovery today, it is progressive but consistent – we already have seven quarters of positive growth, "said Goldfajn.

Speaking of inflation, the president of the Central Bank reminded that in 2015, the rate was close to 10.6%. , falling to 6.29% at the end of 2016 and ending last year at 2.95% – below the target set by the recipient country and ending in 2019 at 4.12%, or slightly below the target of 4, 25%.

"The beginning of the year 2018 with inflation below target has proved useful because this year has been faced with many challenges.We had a significant external shock, a difficult environment for the emerging economies There was a depreciation of the currency in all emerging economies from the most vulnerable to the least vulnerable: I would say about 10%, "he added.

After pointing out the occurrence of a significant decline in the country's GDP, of the order of 7.5% [em 2015 e 2016] and with the help of estimates of the market itself even to estimate that the economy should close by 2.4% next year, the president of the Central Bank has affirmed as fundamental for the recovery of the Brazilian economy more coherently the continuity of reforms

The reforms [19659011] The President of British Columbia has championed the reforms and adjustments needed to ensure economic recovery. "We have to work reforms, adjustments, for this recovery to be more intense.The main objective is monetary policy, inflation, exchange rate policy – I would say that these are the current affairs In addition to this routine, we have the stability of the financial system [É preciso] that the system works properly. "

However, warns Goldfajn," it is not enough to do the routine, the day the It is not enough for inflation to stay on track, we must also move forward with structural measures, which is why we are working on the BC + program: it is a financial program which deals with citizenship, including more people in the financial system and more modern legislation for British Columbia, whose inhabitants are 30 or 40 years old or older. "] He emphasized that economic growth -was not a goal of the Central Bank, but that the federal government as a whole advocated the autonomy of the institution and once again insisted on the need to make the necessary adjustments and reforms ", the achievements of the last two years will be consolidated and advanced only if they are applied. "