Interest

Consumption should grow and interest is high near the end

07/03/2014

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Minutes of the Monetary Policy Committee reverses prediction that Brazil is moving toward stagnation , but still inflation worries


ALESSANDRA HORTO


Rio - The minutes of the Monetary Policy Committee ( Compom ) of the Central Bank ( BC ) , released yesterday, holds the prospect of increased consumption , even moderate , helping in the growth of the economy . The Committee also indicates stability in gasoline prices this year . And also points perspective adjustment of 7.5 % in the residential electricity tariff .

Forecast growth in the purchasing department , even if slight , animated home appliance sectors
Photo: ABr
Even with the slowdown in credit supply to the customer , reflecting the eight high straight on the basic interest rate ( Selic ) and what is planned for next month, the BC estimates moderate growth in Brazilian consumption for 2014 , bringing relief to sectors that feared stagnation of economic growth. The institution believes that consumption will advance , even though at a more moderate pace than previously recorded.

Ilan Goldfajn , chief economist at Itaú Unibanco , took the indications that the series of eight elevations Selic walks to an end soon minutes . For the specialist , there are already signs that macroeconomic may lead the central bank to stop the cycle .

" The Monetary Policy Committee says demand and supply have growth rates that ' gradually approach ' , probably indicating that the monetary policy response is beginning to induce a rebalancing of the economy . Moreover , the prospect is ' pace of domestic activity relatively stable this year ,' " wrote Goldfajn .

The suggestion of the Monetary Policy Committee to keep the cycle of high Selic influenced yesterday closing at a high of more than 1 % of the Stock Exchange (Bovespa ) . After four sessions of decline, rose 1.08 % 47,093 points .

According to the Brazilian Institute for Geography and Statistics , the overall average Brazilian income grew 29.6 % between 2003 and 2013 . Examples of consumer dreams that have come true are his own house, appliances and cars .

The BC works to find that balance to keep inflation within the target set by the National Monetary Council , of 4.5 % , with a margin of two percentage points more or less. As the organ , inflation is " slightly above what was anticipated ." Mainly by changes in the consumer price recorded in the last 12 months.

Last week , the Central Bank raised the Selic rate by 0.25 percentage point to 10.75 % per annum .

Reservoirs in the levels of rationing

The reservoir levels Regions Southeast / Midwest , responsible for 70 % of the installed capacity of the National Interconnected System ( SIN ) , is 34.6 % , a level similar to March 2001 , year of electricity rationing in the country .

According to the ONS ( National Electric System Operator ) , the reservoirs of power plants in the Southeast / Midwest should receive during this month , the amount equivalent to 67 % of the historical average water. But it should not be enough to reassure electrical sectors .

Experts point out that it is still early to talk about rationing . Is necessary to wait the end of the wet season to chart a new scenario .

Yesterday , the President of the Republic Dilma Rousseff met with the Minister of Mines and Energy , Edison Lobao , at the Alvorada Palace , but the content of the meeting was not disclosed .

DRY HIGH PRICE OF VEGETABLES AT 35 %

The dry weather of recent days is responsible for the high price of vegetables in the state of Rio Elevation wholesale is on average 35%. As president of Acegri ( Trade Association of Producers and Users of Ceasa Rio Grande ) , Waldir Lemos , product offering is small and most food had higher prices due to drought. The most affected are potatoes , lettuce and cabbage.

Have fruits are high priced due to the end of the summer and winter approaches . There is an inversion product , quotes Waldir Lemos : " The end of one season and the beginning of another usually raise prices ." Examples of summer fruits like peaches, plums and grapes are . The winter are orange , pear and tangerine.

The pensioner Maria Julia Santos , 64, said he can not buy the same amount of vegetables and fruits due to high . " Our pay rises but food values jump further . It is difficult to have a balanced diet . " According to the retired , the prices go up every week: " I go from store to store to take advantage of the deals . It's so I can buy bigger quantity. "


Source : The Day - Online

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