Key Facts —The framework: Brazilian Central Bank President Gabriel Galípolo told the 4th BCB Annual Conference on May 13 that the current monetary-policy challenge is separating genuine supply shocks (from the Middle East war and climate effects) from second-order effects, with the latter requiring extra vigilance given Brazil’s unanchored inflation expectations and tight labor market. […]

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Key Facts —The operation: The Brazilian Federal Police launched Operation Off-Balance on May 13, executing six search and seizure warrants in Cajamar, Boituva, and São Paulo to investigate R$107 million (US$27 million) in suspicious investments by the Cajamar municipal pension fund, including R$87 million (US$22 million) in liquidated Banco Master notes. —The targets: Three former […]

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Key Facts —The headline: Genial/Quaest’s May 13 poll shows President Luiz Inácio Lula da Silva at 42% to Senator Flávio Bolsonaro’s 41% in a potential second-round vote, a numerical edge inside the 2-point margin of error and a reversal from the April poll, when Flávio led 42% to 40%. —The first round: Lula leads 39% […]

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