Latest news with #BradescoBBI
Business Insider
12-05-2025
- Business
- Business Insider
Braskem downgraded to Neutral from Outperform at Bradesco BBI
Bradesco BBI downgraded Braskem (BAK) to Neutral from Outperform with a $4 price target Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Yahoo
08-04-2025
- Business
- Yahoo
Brazil sees no need to announce tariff measures for now, minister says
BRASILIA (Reuters) - Brazil's Finance Minister Fernando Haddad said on Tuesday now is not the time for Latin America's largest economy to announce any measures in response to trade tariffs imposed by the U.S. "The moment is not one for announcing measures," he said at an event hosted by Bradesco BBI. Haddad said the tit-for-tat actions between the U.S. and China are unfolding daily, with uncertainty over how the escalation will end. In this scenario, the worst thing Brazil could do is act without caution, he said. Brazil has not run a trade surplus with the U.S. since 2008 - a factor that contributed to the country being hit with the minimum 10% tariff, which many see as a potential advantage that could position the country as a winner in the global trade shake-up. Haddad said the U.S. tariffs replaced hard quota policies, which could actually help Brazil increase exports to the American market. "Brazil is in a good position overall," he said. "Relatively speaking, we're closer to the exit door than our peers." On the same day U.S. President Donald Trump unveiled sweeping trade tariffs, Brazil's Congress passed a bill giving the country a legal basis to retaliate against unilateral trade measures, boosting its ability to respond beyond its usual strategy of challenging actions at the World Trade Organization. Although leftist President Luiz Inacio Lula da Silva said any response to the new U.S. levies would be based on the bill, Vice-President Geraldo Alckmin said Brazil prefers dialogue and does not plan to trigger the new mechanism for now, opting instead to pursue further talks with U.S. counterparts.
Reuters
08-04-2025
- Business
- Reuters
Brazil sees no need to announce tariff measures for now, minister says
BRASILIA, April 8 (Reuters) - Brazil's Finance Minister Fernando Haddad said on Tuesday now is not the time for Latin America's largest economy to announce any measures in response to trade tariffs imposed by the U.S. "The moment is not one for announcing measures," he said at an event hosted by Bradesco BBI. Haddad said the tit-for-tat actions between the U.S. and China are unfolding daily, with uncertainty over how the escalation will end. In this scenario, the worst thing Brazil could do is act without caution, he said. Brazil has not run a trade surplus with the U.S. since 2008 - a factor that contributed to the country being hit with the minimum 10% tariff, which many see as a potential advantage that could position the country as a winner in the global trade shake-up. Haddad said the U.S. tariffs replaced hard quota policies, which could actually help Brazil increase exports to the American market. "Brazil is in a good position overall," he said. "Relatively speaking, we're closer to the exit door than our peers." On the same day U.S. President Donald Trump unveiled sweeping trade tariffs, Brazil's Congress passed a bill giving the country a legal basis to retaliate against unilateral trade measures, boosting its ability to respond beyond its usual strategy of challenging actions at the World Trade Organization. Although leftist President Luiz Inacio Lula da Silva said any response to the new U.S. levies would be based on the bill, Vice-President Geraldo Alckmin said Brazil prefers dialogue and does not plan to trigger the new mechanism for now, opting instead to pursue further talks with U.S. counterparts.
Reuters
21-02-2025
- Business
- Reuters
Brazil's central bank director says rates will be adjusted as needed after March
BRASILIA, Feb 21 (Reuters) - Brazil's central bank is convinced that monetary policy is more restrictive than normal given its guidance for an upcoming interest rate hike, and will adjust it as needed going forward, its monetary policy director, Nilton David, said on Friday. After beginning a tightening cycle in September, the central bank of Latin America's largest economy has raised its benchmark Selic rate by 275 basis points to 13.25%, and signaled late last month that it would hike it again by 100 basis points in March. "Whether it is sufficient or not, we will find out and adjust accordingly," David said at an event hosted by Bradesco BBI, adding that potential moves at the meeting in May are not currently under discussion. David stressed that policymakers will not cut borrowing costs based on perceptions of slowing economic activity, but rather on a clear assessment of what is driving inflation. He warned that the coming months will be challenging, as annual inflation readings are set to rise. "Inflation will get worse before it gets better," he said, acknowledging that market inflation expectations - currently well above the central bank's official 3% target - are unlikely to improve quickly. With the Brazilian real having gained more than 8% against the U.S. dollar since the start of the year, following a drop of more than 20% in 2024, David said the central bank cannot assume it will resolve its problems with just a few weeks of exchange rate adjustments. He also pointed out that the central bank has no attachment to any specific exchange rate level or target. David said economic activity is expected to cool down and that current monetary policy will move in that direction, but acknowledged that some economists perceive that, in response, incentives may be provided to boost the economy, counteracting the central bank's efforts. However, he emphasized that the central bank cannot raise interest rates based on hypothetical outcomes. "It doesn't seem like the most appropriate policy when you're already at restrictive interest rates," David said, echoing recent comments by central bank chief Gabriel Galipolo, who said policymakers could not act preemptively on an issue that has yet to materialize.
