The dollar registered a rise this Thursday (28/03), influenced by the recent release of data on unemployment in Brazil, which showed an increase in the unemployment rate in the quarter ending in February. According to the Brazilian Institute of Geography and Statistics (IBGE), the unemployment rate reached 7.8%, marking an increase of 0.3 percentage points compared to the previous quarter.
At the same time, information released by the Ministry of Labor and Employment revealed the creation of 306.1 thousand formal jobs in February this year, which represents an increase of 21.2% compared to the same month last year, when 252, 5 thousand formal jobs were created.
The minutes of the Central Bank’s Monetary Policy Committee (Copom), also released yesterday, brought signs of caution regarding the next steps of monetary policy. The document suggests a more cautious approach to future adjustments to the Selic rate, currently at 10.75% per year, due to uncertainties in the inflationary scenario. The minutes reflect the concern of some Copom members about the need for a slower pace in Selic rate cuts if uncertainties remain high.
Since June last year, the Copom has carried out six consecutive reductions in the basic interest rate, of 0.5 percentage points each, reducing the Selic from 13.75% to 10.75% per year. This monetary policy scenario, added to recent employment statistics, has been one of the factors influencing the behavior of the foreign exchange market in the country.
Tags: Dollar approaches
