Commodity prices continue to rise and BC is looking at the impact on inflation, says Campos Neto

The president of the Central Bank, Roberto Campos Neto, said that commodity prices continue to rise and that the monetary authority is monitoring the effect of the conflict between Israel and the Hamas group on inflation. “We have the situation in Ukraine, in Israel, and how will prices be impacted?”, he asked during the event Reuters Next, held in New York.

According to Campos Neto, the BC monitors how commodities are being affected and how this can be reflected in its vision.

He also stated that food prices are reducing in Brazil, which is a large agricultural producer.

In his view, it is difficult to draw a parallel between the current crises, mentioning existing conflicts, and Covid-19.

“As an agricultural powerhouse, Brazil is a story of security,” added Campos Neto.

Carbon market

The president of the Central Bank also stated that Brazil will be one of the biggest sellers in the carbon market, while other countries will be buyers. According to him, the country has focused on this segment, with the creation of a taxonomy, that is, an ecological standard for assets, and also on instruments so that resources can be better allocated.

“What we have to do is have a taxonomy, because it is very difficult to have a carbon market if you don’t have a set of rules”, said Campos Neto.

He said that it is necessary to encourage companies to find ways to build the carbon market in the country. “At the end of the day, Brazil will be a big seller in the carbon market and many other countries will be buyers”, projected the central banker.

Monetize native forests

For Campos Neto, it is also necessary to be open to monetizing native forests, considering the various methods that currently exist.

“If we manage to preserve and monetize, we will have a great future in terms of the carbon market in Brazil”, concluded he, who is fulfilling an agenda in the United States, which includes participation in different events and conversations with foreign investors.

Follow her That is at the Google News and receive alerts about the main news