Brazil raises basic interest to 10,75%; same rate as when Rousseff took office

Thursday, February 27th 2014 - 04:41 UTC

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Brazil's central bank raised its benchmark interest rate Wednesday to 10.75% from 10.5%, and left the door open for more rate increases while slowing the pace of the hikes. The move continues the bank's yearlong fight against inflation even as rising interest rates and the poor performance of the country's exporters jeopardize already feeble growth in an election year. Read full article

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ChrisR
Yes, it has taken her and The Liar Mantega to learn what I have always said, that no-one and no country can buck Mr. Market.

Dilma thought that the dastardly banks were being hard on the “poor” by refusing them bank loans. But the real reason relatively poor people should not have loans is that they cannot repay them if the economy moves against them. “Sub-prime” ring a bell with anyone.

And Mantega has done his best to ruin the economy.

So, I told you so. The banks knew their market all the while: Dilma needs to keep that lesson to heart.
Feb 27th, 2014 - 10:41 am - Link - Report abuse 0
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