BRASILIA (Reuters) – Brazil’s economy has begun a ‘V-shaped’ recovery from the worst of the COVID-19 crisis, central bank president Roberto Campos Neto said on Thursday, citing rebounds in energy, traffic and tax collection data as well as double-digit credit growth.

Speaking in a live online event hosted by newspaper Correio Braziliense and Itau bank, Campos Neto also said that inflation will be well behaved this year and next, but warned that unemployment will get worse before it gets better.

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