Brazil Pension Reform Helps Improve Inflation Outlook, Says Central Bank Chief

www.oann.com | 2/26/2019 | Staff
samtetley (Posted by) Level 3
BRASILIA (Reuters) – Brazil Central Bank President Roberto Campos Neto on Thursday welcomed the approval by Congress of a landmark overhaul of the country’s pension system, saying the reforms help create a benign outlook for inflation.

In an interview with the GloboNews television channel, Campos Neto said Wednesday’s resounding vote by lower house lawmakers represented an important moment for the economy and improved the perception of Brazil in the eyes of investors.

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“Obviously, a breakthrough on reforms makes the inflation scenario in the future more benign,” Campos Neto told GloboNews. “The prevailing factor (in the risks to inflation) is reforms. Progress on reform is improvement in this sense.”

The lower house of Congress on Wednesday passed the main text of the government’s pension reform bill 379-131, well beyond the 308 votes required. It now faces a second-round vote before going to the Senate for final approval.

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The central bank kept interest rates on hold last month, noting that the upward risk to inflation...
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