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Montevideo, September 27th 2023 - 09:48 UTC
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
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?
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.
EUR 1,00 = BRL 3,00 would be a good balance.
I can't wait .....
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