Scepticism on second Plaza accord, Brazilian economic outlook and challenges ahead

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Scepticism on second Plaza accord, Brazilian economic outlook and challenges ahead

Tuesday 12 November 2019  – Vol.10 Ed.46.1

Commentary: Scepticism on second Plaza accord

By Mark Sobel in Washington

In 1985, the G5 agreed on a currency pact, the so-called Plaza accord. In recent weeks, market participants have questioned whether there could be a new iteration of the deal. The G5 argued that improving economic fundamentals had not been reflected in exchange markets and that ‘further orderly appreciation of the main non-dollar currencies against the dollar [was] desirable’. But Plaza placed undue blame on the exchange rate and helped push an already weakening dollar down, and the global context has changed.

Read the full commentary on the website.

Fernanda Nechio, deputy governor for international affairs at the Banco Central do Brasil

Meeting: Brazilian economic outlook and challenges ahead

Thursday 14 November, London, 09:00-10:30 GMT

Brazil’s economy is facing multiple reforms, and monetary stimulus appears increasingly probable as the administration moves to address slowing growth and high unemployment. Fernanda Nechio, deputy governor for international affairs at the Banco Central do Brasil, will discuss the country’s economic outlook in the wider Latin American context, as well as monetary policy responses to economic reform, financial conditions and Brazil’s investment climate.

Request to attend the meeting.

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