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Financial News: BRAZIL: Good Fiscal Policy Helps Central Bank, But

BRAZIL: Good Fiscal Policy Helps Central Bank, But Not Essential - Goldfajn

04/18/2018 - 20:47:00 (RTTNews)

(RTTNews) - Although adequate fiscal policy eases the work of the Brazilian Central Bank, monetary policy can act without great restrictions even when the fiscal side is inadequate, said the monetary authority's governor, Ilan Goldfajn, during an International Monetary Fund (IMF) session.

"I would say that the better the fiscal policy, the better the monetary policy. That does not mean that monetary policy is constrained by fiscal policy," he said.

However, Goldfajn warned that in Brazil's case, to keep inflation stable over time in a low-interest environment, a fiscal policy capable of supporting this scenario would be necessary, which is not the case today.

"When you look at rates a few years from now, there are issues we will face in the future, from fiscal dynamics," he said, without elaborating on the assessment.

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