Brazil central bank chief sees jobless rate falling to about 8.5%

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People walk in front the Central Bank headquarters building in Brasilia

BRASILIA – Brazilian central bank chief Roberto Campos Neto on Monday said policymakers had never imagined the country’s unemployment rate below 9%, but it now seems likely to fall to around 8.5%.

Brazil’s jobless rate in the three months through June stood at 9.3%, the lowest level for the period since 2015. Speaking at an event hosted by Instituto Millenium, Campos Neto stressed that service prices are still rising, but seem to be stabilizing “a bit.”

(Reporting by Marcela Ayres; Editing by Brad Haynes)

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