Brazil increases benchmark rate to fight inflation, but markets feel it’s not enough

Thursday, April 18th 2013 - 16:51 UTC

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Brazil’s central bank on Wednesday raised its benchmark rate for the first time since July 2011 as policy makers seek to slow inflation levels. The bank’s board, led by President Alexandre Tombini, voted 6-to-2 to increase the Selic rate 25 basis points to 7.50% from a record low. Read full article

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ChrisR
I have no idea why this 'inflation' came as a surprise.

Anyone remember that the banks were ordered by Dilma to give loans to the populace despite the debt failure rate (all well known) and just what did Dilma think they were going to do with the money?

All together now: SPEND IT on what they want, NOT what the government wanted. It’s called The Mr. Market effect and nobody messes with Mr. Market and wins, nobody.

It is clear that there is no-one in sole charge of financial strategy in Brasil.

Oh dear!
Apr 18th, 2013 - 09:05 pm - Link - Report abuse 0
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