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Tag: central bank of brazil

Brazilian Central Bank reduces interest rates to their lowest level in 16 months

Brazilian Central Bank reduces interest rates to their lowest level in 16 months Brazilian Central Bank reduces interest rates to their lowest level in 16 months

He Central Bank of Brazil This Wednesday, it reduced the basic interest rate by 0.50 percentage points, which now stands at 12.75% annually, the lowest level in the last 16 months, the issuing body reported. The reduction in the cost of money in Brazil was the second consecutive (in August it had also been reduced […]

Economists in Brazil advise against changing central bank targets

Economists in Brazil advise against changing central bank targets Economists in Brazil advise against changing central bank targets

The leading economists of Brazil They told the central bank that raising inflation targets now would only raise doubts about the government’s commitment to sound fiscal and monetary policies, according to seven participants in a meeting with the monetary authority on Monday. Economists expressed the unanimous opinion that such a move, at a time when […]

Lula sharpens crisis with central bank while traders see rate hike

Lula sharpens crisis with central bank while traders see rate hike Lula sharpens crisis with central bank while traders see rate hike

Lula described the central bank’s stance on rates as a “shame” and urged companies to complain about borrowing costs. “there is no justification” so that the Selic reference rate is at its current level of 13.75%, he said Monday during the swearing-in ceremony for Aloizio Mercadante as executive director of the state development bank, BNDES, […]

Lula’s attack on the Central Bank worries operators in Brazil

Lula’s attack on the Central Bank worries operators in Brazil Lula’s attack on the Central Bank worries operators in Brazil

So when President Luiz Inácio Lula da Silva, only three weeks in office, questioned the need for an autonomous central bank during an interview on national television last week, it did not go over well with the markets. Swap rates soared and the currency plunged after his remarks. Cabinet members came on the scene and […]