Fearing high inflation Brazil raises basic rate 50 basic points to 8%

Friday, May 31st 2013 - 07:15 UTC

Full article 3 comments

Brazil's central bank raised its benchmark interest rate on Wednesday to 8% from 7.5%, as part of an effort to battle high inflation in an economy that keeps struggling with slow growth. Read full article

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ChrisR
Oh dear!

It was always going to be thus when the tax breaks and subsidies worked through the system.

Strong words from the Governor of the Bank: I hope he doesn't end up eating them.

Can anyone tell me WHO is in charge of financial strategy in Brasil, or even if there is someone?
May 31st, 2013 - 12:42 pm - Link - Report abuse 0
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JoseAngeldeMonterrey
Brazil is desperately trying to curve inflation, their currency´s still overvalued, they blame the currency flows from US, Europe and Japan, but everyone knows the Real goes up because of huge commodity exports. So while the country´s agricultural exports bring in massive amounts of Dollars, the country´s involved in a Dutch Disease conundrum nobody wants to recognize.
Jun 01st, 2013 - 01:52 am - Link - Report abuse 0
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God.Is.An.Illusion
EUR 1,00 = BRL 3,00 would be a good balance.
I can't wait .....
Jun 02nd, 2013 - 04:22 pm - Link - Report abuse 0
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