Brazil cuts basic rate by half a point to 11% and says inflation converging to target

Wednesday, November 30th 2011 - 23:08 UTC

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Brazil’s central bank cut borrowing costs by half a point for a third straight meeting as a global economic slowdown threatens with a slump in domestic demand. The bank’s board voted on Wednesday unanimously to reduce the benchmark Selic rate to 11% from 11.5%, as had been anticipated by markets. Read full article

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GeoffWard2
“Inflation 6.69%”

I'm not sure any country can measure inflation to the preciseness of 1:10,000.
More likely, Tombini was asked over coffee “It would really help us if we could show this month a rate somewhat less than 6.7%”
Dec 01st, 2011 - 11:53 am - Link - Report abuse 0
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