“Interest rate has been falling not to please Dilma”, says Brazil Central bank chief

Monday, May 14th 2012 - 05:38 UTC

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The central bank remains independent and the current interest-rate cutting cycle is driven by specific economic factors, not pressure from President Dilma Rousseff, Brazil’s central bank President Alexandre Tombini said in an interview in the Sunday edition of O Estado de S. Paulo. Read full article

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ChrisR
“Interest rate has been falling not to please Dilma”, says Brazil Central bank chief”

YES, of course it has. :o)
May 14th, 2012 - 12:30 pm - Link - Report abuse 0
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Forgetit87
@ChrisR

Economic activity in Brazil dropped non-stop the previous year. Partly to blame for this are the restrictions put on bank lending by means of increased reserve demands and interested rates. And odds are that the economy will keep on cooling in 2012. It isn't necessary that that dumb woman complain about the interest rates -- that they need to go down is something anyone who has been observed our economy would have concluded by now.

That Tombini still has to justify his decisions to the press and to the markets shows only the extent to which monetarist ideology has brainwashed the establishment.
May 15th, 2012 - 02:23 am - Link - Report abuse 0
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