Brazil Central Bank Union Says Strike Delays Key Economic Data

    Roberto Campos NetoPhotographer: Andre Coelho/Bloomberg

    Key Brazilian economic indicators, including a weekly survey that’s closely-watched by investors, are being delayed this week as central bank workers protest for higher salaries.

    The workers, unhappy with a pledge by President Jair Bolsonaro to increase wages for only some public servants such as police officers, have decided to strike after holding some walkouts this month. Public servants who haven’t been promised a salary increase, including those at the internal revenue system, have been protesting since December with temporary work stoppages. Some of them have resigned from leadership positions.

    Brazil To Bid Goodbye To Single-Digit Rates
    Brazil’s central bank headquarters in Brasilia
    Photographer: Andressa Anholete/Bloomberg

    The central bank’s so-called Focus survey, with estimates from more than 100 agents for inflation, growth, interest rates and currency, was published an hour and half late on Monday. It showed most analysts expect inflation to accelerate further beyond target this year and next.

    Economic indicators including credit reports, fiscal statistics and current account data previously scheduled for this week were also delayed without a new publication date, the central bank said in a statement, without giving details.

    “We respect the workers’ right to protest. Central bank workers have a huge feeling of responsibility toward their jobs and we have contingency measures in case things worsen,” central bank chief Roberto Campos Neto told reporters last week.

    The union approved on Monday an indefinite strike beginning on April 1, as it demands that their wages be adjusted by inflation, as well as a career restructuring. Some financial services provided by the central bank, including market data, customer services and distribution of banknotes may be affected, the union said.

    Fonte: Bloomberg

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