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Montevideo, July 18th 2018 - 00:49 UTC

Tag: Brazil's Central Bank

  • Wednesday, June 6th 2018 - 08:27 UTC

    Brazil's central bank survey lowers 2018 growth forecast to 2.18%

    The downgrade was blamed on a slower than expected rate of economic recovery and crippling truckers' strikes in May

    Brazil's financial market has downgraded its 2018 economic growth forecast from 2.37% to 2.18%, according to a Focus poll released on Monday by the Central Bank. Four weeks ago, a similar survey of the country's leading financial institutions showed GDP was expected to expand 2.7%.

  • Thursday, May 17th 2018 - 08:47 UTC

    Brazil leaves basic rate unchanged citing a more volatile world situation

    “The global outlook has become more challenging and showed volatility,” the bank said in the statement announcing its decision.

    Brazil's central bank unexpectedly left its benchmark interest rate unchanged on Wednesday, citing a more challenging and volatile situation in world economies. The bank left its benchmark Selic rate at an all-time low of 6.5%, after signaling at its previous meeting it would cut at least once more.

  • Thursday, October 12th 2017 - 12:10 UTC

    Brazilian central bank insists on the need to limit pension spending

    “I believe you can’t escape from carrying out reforms at some point,” Goldfajn told Senators. “The earlier it’s done, the better.”

    Brazil’s lawmakers can’t duck their responsibility to pass belt-tightening measures, central bank President Ilan Goldfajn told a Senate hearing in Brasilia this week. Reform proposals, particularly a constitutional amendment to limit pension spending, will help keep inflation low, reduce the structural interest rate and buoy the country’s overall recovery, Goldfajn said.