Guillen: The current situation is characterized by high interest rates in several countries | Economy

Director of Economic Policy at central bankDiogo Abre Guillen once again highlighted that the international situation is characterized by rising interest rates in many countries and reiterated the assessment that global inflation occurs in two stages, the second stage being slower.

fall in economic inflation In many countries, it’s basically not that big,” he said, citing the resilience of goods and services and inflation of industrial goods. He added in a lecture he delivered at the annual forum on economics and the credit union.

According to the director, the downward movement in commodity prices is “very inhomogeneous”, due to the uneven recovery of activity in many countries. The Central Bank Commodity Index (IC-Br) fell by 0.77% in June and achieved a decline of 12.27% in the first half of 2023.

“Inflation is high, inflation is projected over time, and it’s back on target in different countries on different horizons. Some countries are centered on target and others on ranges,” Gillen reiterated.

Again, he cited upward revisions in growth projections for central economies in 2023, with the opposite movement – downward revisions – in estimates for 2024 activity.