Tag: Central Bank of Brazil
Central Bank of BrazilBrazil targets a dollar floor of 1.80 Reais and questions private banks attitude
Having a floor of 1.80 Real to the US dollar is no great thing, but it is a target to sustain said Brazil Development, Industry and Foreign Trade minister Fernando Pimentel referring to the latest announcements to promote Brazilian industry battered by a strong currency and massive inflow of ‘cheap’ imports.
Brazil growth in 2011, slowest since 2003, but 2 million jobs were created
The Brazilian economy last year registered its second-worst performance since 2003 as higher borrowing costs and a currency that rallied to a 12-year high led it to under-perform emerging-market peers China and India.
Brazil cuts basic rate to 10.5% and signals further reductions in the future
Brazil’s central bank indicated on Wednesday it will keep cutting interest rates at the current pace after it reduced borrowing costs by a half-point to 10.5%, for a fourth straight meeting.
November inflation in Brazil up 0.52% and 6.64% in last twelve months
Brazilian consumer prices rose faster than expected in November. Inflation as measured by the benchmark IPCA index, quickened to 0.52% last month from 0.43% in October.
In spite of slower growth, Brazil’s consumers and industrial capacity on over time
Economic activity in Brazil expanded 0.17% in May over the previous month, the slowest pace this year, according to the Central Bank’s seasonally adjusted index. As direct reference growth in April was 0.44%. However the May figure is 4.25% over a year ago.
Brazil hikes basic rate to 12.25% and further increases can be expected
Brazil's central bank increased late Wednesday its benchmark interest rate for the fourth straight meeting after consumer prices exceeded the upper limit of its target range for the first time since 2005.
Brazilian central bank raises benchmark rate 0.25 percentage points to 12%
Brazil’s central bank raised its benchmark interest rates a quarter of a percentage point from 11.75% to 12%. The decision surprised the market since it was a smaller raise than two previous hikes of half a percentage point earlier this year.
Brazil expected to raise benchmark interest rate as inflation “worsens”
Brazilian Central bank President Alexandre Tombini admitted inflation forecasts may “worsen”. Consumer prices in the 12 months through mid-March rose 6.13%, the biggest jump in more than two years.
Brazil’ central bank forex surpass the 300 billion USD mark…but at a cost
Brazil's forex reserves surpassed the 300 billion US dollars mark for the first time ever this week according to the country's central bank as a result of recent heavy foreign exchange inflows and accelerated US dollar buying by the institution.
Brazil Raises Interest Rate to 11.25%
Brazil’s Central Bank has increased its key interest rate to 11.25% in the hope of halting inflation. The rate has gone up from 10.75% and is the first under the Government of President Vilma Rousseff, who came in to office earlier this month.
