In January 2011, the Investor Relations Group (Gerin) and the Special Studies Department, both subordinated to the Deputy Governor for Economic Policy, joined together and originated the Investor Relations and Special Studies Department (Gerin).
Gerin currently manages two mailing lists totaling 18,000 members and distributes the Central Bank's main reports via e-mail (Portuguese and English). Gerin also produces its own reports and documents, all available at www.bcb.gov.br, including:
Regarding Special Studies, Gerin coordinates and elaborates studies focused on corporate governance of central banks.
In Brazil, in addition to Gerin in Banco Central do Brasil, the society and the financial community can count on the services of the National Treasury Investors Relations Office. Created in 2001, the Investors Relations Unit has a focus on maintaining and improving the relationship with investors, analysts and ratings agencies regarding public debt bonds, aiming at increasing the transparency of the National Treasury’s actions and broadening the investors' base.
Both Banco Central do Brasil and the National Treasury participate in the Brazil: Excellence in Securities Transactions (BEST Brazil) activities. The BEST Brazil initiative is aimed at providing the most comprehensive information on the developments of the Brazilian capital market, opportunities of investments and a closer channel of communication with the most prominent representatives of the Brazilian capital market. In addition to the Treasury and the BCB, this initiative also involves other official agencies, such as the Securities and Exchange Commission of Brazil, reinforcing the soundness of the regulatory framework and the organization of the Brazilian Financial System. The main activities of BEST Brazil consist of roadshows, meetings and other projects in the main financial centers all around the world. More information regarding BEST Brazil is available at www.bestbrazil.org.br.
The survey of market expectations began in May 1999 as part of the transition to the inflation targeting system. The survey was created in order to monitor market expectations and improve the inputs for the monetary policy decision-making process.
Currently, the survey monitors market expectations for different inflation indices, GDP growth, industrial production growth, the exchange rate, the Selic interest rate, fiscal variables, and external sector variables. As a result of the increasing importance of monitoring expectations to the Central Bank, in November 2001 Gerin established a specific website (www.bcb.gov.br/expectativa) and system (the Market Expectations System) for conducting the survey. As a result, the speed at which information reaches the Central Bank was increased, and the Central Bank can now monitor market sentiment online (participating institutions with a login ID and password can provide forecast information at any time).
The system calculates sample statistics from the data gathered in real time, and thereby enables the generation of daily reports for the members of the Monetary Policy Committee. Moreover, the Focus-Market Readout is published weekly at the Central Bank website, highlighting changes in and providing the recent evolution of the market consensus for the variables in the survey.
To foster private sector forecasting expertise, Gerin publishes the Top 5 rankings of forecasters on monthly and annual bases. The rankings classify the institutions that participate in the survey based on their short-term, medium-term and long-term forecasting accuracy.
The System of Market Expectations was awarded, in 2010, the second prize in the Second Regional Statistical Innovation Competition for the Latin America and the Caribbean. Created in 2007, the World Bank Competition aims to award the statistical programs and activities that outperform for their quality, design, implementation and evaluation of public policies that are priority for development, and also for presenting innovative elements.
The statistical programs and activities of 26 countries of the Latin America and the Caribbean were evaluated by a committee of experts in statistics from the World Bank, the International Monetary Fund, the IADB, Eurostaat and Instituto Nacional de Estadística. The winner programs participated on the award ceremony on October 20, 2010, at the World Bank headquarter, in Washington.
More information on the evaluation and award can be obtained at the web pages 2nd Regional Statistical Innovation Competition and 2nd Statistical Award of the World Bank (in English), 2º Prêmio Regional para Inovação Estatística (in Portuguese), and Segundo Concurso Regional de Innovación en Estadísticas and Segundo Concurso del Banco Mundial (in Spanish).
Renato Jansson Rosek - Head (renato.jansson@bcb.gov.br)
Maria Goreth Miranda Almeida Paula - Deputy Head (goreth.miranda@bcb.gov.br)
Andre Barbosa Coutinho Marques (andre.marques@bcb.gov.br)
Carolina Freitas Pereira Mayrink (carolina.pereira@bcb.gov.br)
Henrique de Godoy Moreira e Costa (henrique.godoy@bcb.gov.br)
Luciana Valle Rosa Roppa (luciana.roppa@bcb.gov.br)
Manuela Moreira de Souza (manuela.moreira@bcb.gov.br)
Márcio Magalhães Janot (marcio.janot@bcb.gov.br)
Maria Claudia Gomes Pereira S Gutierrez (maria.claudia@bcb.gov.br)
Contact us:Phone +55 (61) 3414-3980
Fax +55 (61) 3414-3749
E-mail: gerin@bcb.gov.br