Brazil president denies rumour of crisis with central bank

Rising costs: Workers inspect oranges at a packing house in Sao Paulo. Inflation expectations for 2022 keep rising as the market accounts for higher commodities and electricity costs, as well as growing political noise in the run-up to the 2022 elections. — Bloomberg

BRASILIA: Brazilian President Jair Bolsonaro’s chief of staff denied speculation of a crisis building between him and Roberto Campos Neto, the country’s central bank chief, calling it an “imaginary bonfire.”

Bolsonaro expressed regret for signing a law that gave formal autonomy to the central bank, according to the Associated Press.