MercoPress. South Atlantic News Agency
Brazil central bank raises benchmark Selic rate to 11%
Brazil's central bank raised its benchmark Selic rate to 11% from 10.75% on Wednesday, prolonging its tightening cycle after a surge in food prices that has stoked already high inflation in an election year. The bank's decision was unanimous and left the door open for possible further rate hikes. Read full article
Comments
Disclaimer & comment rulesRut ro. Now throw on a little more devaluation and watch the economy be right back to the chaos of the 90s.
Apr 03rd, 2014 - 01:05 pm - Link - Report abuse 0Will they ever learn?
Just a few basic moves Brazil can do to help turn things around.
Apr 03rd, 2014 - 07:42 pm - Link - Report abuse 0Get rid of union law.
Get rid of taxes on companies and reduce the personal rate by 50% from what it is now.
Fine any government employee found guilty of corruption ten times the value of the illegal act.
Second illegal act jail them for 2 years and throw them out of the function.
Get competent people into the finance ministry starting with booting The Liar Mantega out of the door.
No social payments except for illness verified by a physician, or long term physical or mental disability verified by a assessments board for the value of the award.
Unemployed to get help with basic life maintaining expenses only and to last a maximum of one year.
No payments to be made to those unwilling to work. Take their children into care to break the link with not working.
Expenses to move to another area to find work.
No market can flourish with both or one hand tied behind Mr. Markets back for the simple reason Mr Market will break free and wreak revenge on those that want to screw him. You watch what is about to happen if Brazil does not move and soon on these points but we ALL know it won’t (even if it could).
@ CryingR
Apr 03rd, 2014 - 08:18 pm - Link - Report abuse 0The unvarnished view of English socialism, capitalism and democracy.
Our world is different from yours.
@ 3 Brasso
Apr 03rd, 2014 - 09:24 pm - Link - Report abuse 0It is indeed and it's fucked!
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