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Brazil central bank's cautiousness has paid off amid rising uncertainties, says director

BY Reuters | ECONOMIC | 04:07 PM EDT

SAO PAULO, April 15 (Reuters) - The approach currently adopted by Brazil's central bank of operating with cautiousness amid rising uncertainties, which includes the U.S.-Israeli war on Iran, has paid off, Nilton David, the bank's monetary policy director, said on Wednesday.

Speaking at a JPMorgan event in Washington, David said the central bank's approach means that it does not take action based on a single piece of data, but has the serenity to assess the construction of all economic indicators available. (Reporting by Fernando Cardoso, Editing by Franklin Paul)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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