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June 10, 2022
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BC postpones Inflation Report to the 30th because of strike

BC will have an exclusive website for consulting the receivables system

The strike by Central Bank (BC) employees, which lasts for more than two months, delayed the release of the Quarterly Inflation Report for June. Initially scheduled for the 23rd, the document will be presented at 8 am on the 30th, the agency informed today (9th).BC postpones Inflation Report to the 30th because of strike

Even without the release of the report, the president of the Central Bank, Roberto Campos Neto and the director of Economic Policy, Diogo Guillen, will give a press conference at 11 am on the 23rd. They will make a brief presentation and, according to the BC press office , will talk about monetary policy.

On strike since april 1st , BC officials claim the replacement of inflationary losses in recent years, which reaches 27%. They also ask for a change in the nomenclature from analyst to auditor and a higher level requirement for BC technicians to join.

On April 19, the category suspended the strike, but resumed movement indefinitely since May 3rd. Since then, only services considered essential have been carried out, such as meetings of the Monetary Policy Committee (Copom) and the disclosure of the primary deficit in the first four months.

The dissemination of statistics, such as the Focus bulletin (weekly survey with financial institutions), the exchange flow, the Savings Report and the daily Ptax rate (average exchange rate that serves as a reference for some negotiations), has been suspended or occurs with considerable delay. Special projects, such as the expansion of open banking and the second phase of consultations for withdrawals of forgotten values, are suspended.

Since the beginning of the year, several categories of the federal civil service have been working under a standard operating scheme or have been on strike because the 2022 Budget has earmarked BRL 1.7 billion for readjustment to federal security forces. At the end of April, the government confirmed that it was studying a linear increase of 5% for the entire civil service, but today the Minister of Economy, Paulo Guedes, ruled out the granting of readjustments in 2022.

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