trending Market Intelligence /marketintelligence/en/news-insights/trending/0Dn0v39MIGmwd0lNrfs1NQ2 content esgSubNav
In This List

Peru cabinet faces confidence vote; Brazil sees GDP growth forecast reduction


No disruption on the road to digitization


Street Talk | Episode 111: Bearish bank investor turns bullish


Insight Weekly: Bank oversight steps up; auto insurers’ dismal year; VC investment slumps

Climate Credit Analytics: Milestones Achieved

Peru cabinet faces confidence vote; Brazil sees GDP growth forecast reduction

* The cabinet of Peruvian President Martin Vizcarra faces a vote of confidence today on his government's anti-corruption plan, the Andina news agency reported. Meanwhile, central bank chief Julio Velarde said a closure of Congress due to a no-confidence vote would mean uncertainty for private investment, El Comercio reported.

* Banco Central do Brasil chief Roberto Campos Neto said GDP growth projection for this year will likely be lowered, Valor Econômico reported. Financial institutions surveyed by the central bank expect the country's 2019 growth to be at 1.13%, lower than last week's 1.23% forecast, Reuters reported separately.


* Mexican remittances spiked 3.6% year over year to $2.86 billion in April, though they still eased slightly from $2.88 billion in March, according to data from the Mexican central bank.

* Mexico will not accept a U.S. proposal to become a "safe third country," forcing Central American asylum seekers to take refuge in Mexico instead of the U.S., Reuters reported, citing the Mexican foreign minister.

* Analysts consulted by Mexico's central bank lowered the country's growth forecast to 1.32% in May from 1.52% in April, El Economista reported. The May forecast is the lowest in 14 months.


* The Brazilian central bank plans to focus on "micro" measures such as boosting accessibility to financial markets to raise credit and lending, instead of turning to macroeconomic approaches, Reuters reported, citing bank chief Roberto Campos Neto.

* Brazil's financial regulators launched a capital markets initiative, Valor Econômico reported. Central bank chief Roberto Campos Neto said the working group will evaluate and propose regulatory improvements to reduce the cost of capital to "stimulate the growth of long-term savings and the efficiency of financial intermediation."

* The Brazilian unit of asset management firm Lazard appointed Antonio Pereira its new CEO, Valor Econômico reported. He replaces Jean Pierre Zarouk, who will become the firm's new chairman.

* The Brazilian central bank plans to change the price structure for overdrafts by allowing banks to levy fees for such operations in exchange for lower interest rates, Valor Econômico reported, citing bank chief Roberto Campos Neto.


* Argentina's country risk ticked to 1,013 basis points on June 3, La Nación reported, citing figures from JP Morgan. The index, which measures sovereign credit spreads against U.S. Treasurys, is at its highest level since President Mauricio Macri took office in December 2015.

* Scotiabank Chile is evaluating whether to launch its own payment acquisition network, La Tercera reported, citing a bank executive.

* FORUM Servicios Financieros SA said Raúl Aronsohn Falickmann resigned as president and director of the company. Ignacio Lacasta Casado will replace Aronsohn Falickmann.


* Asia-Pacific: IAG exits New Zealand life insurance biz; Fitch cuts ICICI Bank's ratings

* Middle East & Africa: Absa's Ghanaian unit fined; Kenya moves to curb illicit flows

* Europe: Fresh UK insider trading probe; Piraeus in €328M deal; France vs Credit Suisse

Pablo Jiménez Arandia contributed to this article.

The Daily Dose has an editorial deadline of 8:00 a.m. São Paulo time, and scans news sources published in English, Portuguese and Spanish. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.