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LatAm Weekly

Softer Credit Growth and Labor Dynamics in Brazil

By Bertrand Delgado, Juan Lorenzo Maldonado, Nathalie Picarelli, Alex Giron and Renzo Merino
Feb 25, 2011 11:00:00 AM | Last Updated

EXECUTIVE SUMMARY

  • Brazil: Inflation pressures are easing in the second half of February, as expected; however, the oil shock poses risks. The current account deficit continues to widen, though there is plenty of funding. Meanwhile, credit growth is decelerating on the back of stricter macroprudential regulations implemented in December, while strong labor dynamics are softening at the beginning of the year.
  • Mexico: Inflation came in broadly in line with expectations however supply side shocks that are affecting oil prices and local corn prices highlight upside risks. Trade data points[...]

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