Civil servants’ strike causes the central bank to postpone the inflation report

Photo: Brenda Rocha – Blossom / Shutterstock.com

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The Central Bank (BC) reported that due to the ongoing civil servants’ strike for more than two months, the quarterly inflation report will be released at 8 am on June 30 only. BC had previously reported that the document would be published on June 23.

Although the release date of the report has changed, BC Director of Economic Policy Diogo Guillen will give a briefing at 11 am on June 23, and later, there will be a press conference with President Roberto Campos Neto.

The topic of the quarterly interview will be the conduct of monetary policy. The presentation and press conference will be broadcast by The official channel of the Central Bank on YouTube.

Central bank employees strike

Since April 1, central bank servers have been on strike. Last Tuesday (7), a meeting took place and the workers decided to keep the movement indefinitely.

The next meeting will be held on the 14th, the first day of the meeting of the Monetary Policy Committee (Copom), which sets the new base rate, Selic, will be.

It is worth noting that the servers initially asked for a 27% salary adjustment, but now they are asking for a 13.50% increase. At the beginning of April, the federal government offered a 5% readjustment to all executive employees, which he was not satisfied with. From the point of view of technicians and analysts of the central bank, the increase offered is insufficient.

Central Bank disclosures delayed due to civil servants’ strike

With meetings taking place to try to resolve the situation, the movement carried out by the servers caused changes in BC’s disclosures, such as the Focus prospectus, which is very relevant to the financial market, and exchange flow data.

Also, due to the strike, the new phase of the receivable system, scheduled for the beginning of May, also had to be postponed, and remained without a fixed date. It should be noted that BC has already confirmed that The next stage of SVR will display more than 7 types of forgotten money.

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Photo: Brenda Rocha – Blossom / Shutterstock.com