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Central bank chief Roberto Campos Neto made a televised appearance in which he sought better relations with Lula's economic team while refusing to cut interest rates or raise the inflation target. Markets reacted positively the following morning.
Stable monetary policy supports the real and reduces financing costs for Brazilian producers, which indirectly affects the export competitiveness of Brazilian soy and corn; the impact on feed prices is limited.
bloomberglinea.comMaria Eloisa CapurroFeb 17, 2023After 213 past bearish macro events, Brazilian Real (BRL per USD) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +0.9%), and +0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
