We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood

We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details

This website does not provide services to residents of United States.

Trader Affiliates

Market News Governor says Brazil's central bank will act independently

Governor says Brazil's central bank will act independently

Governor Roberto Campos Neto announced Thursday that the Brazilian central bank will act independently, noting that the legal autonomy status demonstrates the bank's resilience and capacity to stabilize markets.

Alina Haynes

2023-01-20

8121

Brazil Central Bank.png

Governor Roberto Campos Neto announced Thursday that the Brazilian central bank will act independently, noting that the legal autonomy status demonstrates the bank's resilience and capacity to stabilize markets.

Campos Neto, speaking at an event held by the UCLA Anderson School of Management, stated, "We will act autonomously until the end of the mandate." Former far-right President Jair Bolsonaro appointed Campos Neto to serve until December 2024.

In an effort to appease the markets following President Luiz Inacio Lula da Silva's public criticism of the central bank, Minister of Institutional Relations Alexandre Padilha stated Thursday that the Brazilian government had no plans to alter the central bank.

The formal independence of the central bank, established by law in 2021, was questioned by Lula on Wednesday. He stated that independence was "nonsense" that the existing inflation target inhibits economic growth. Lula questioned the present level of the country's interest rates on Thursday morning, following 12 consecutive rate hikes by the central bank to combat inflation.

According to Campos Neto, the president indicated that the central bank can be autonomous without formalization in legislation.

Speaking about the country's high real interest rate, Campos Neto estimated that inflation would be about 9 percent if the government had not promoted tax cuts last year.

In September, policymakers halted a dramatic tightening cycle that raised interest rates to 13.75 percent from a record low of 2 percent in March 2021. In December, inflation reached 5.79 percent.

Campos Neto stated that Brazilians have vivid recollections of inflation and emphasized that a country viewed as more risky by investors must offer a higher rate of return.

After Bolsonaro supporters entered and destroyed the country's Congress, presidential palace, and Supreme Court on January 8, Campos Neto stated that the central bank strongly opposes the attacks and that they undermine the credibility of the nation.