Brazil leaves basic interest rate unchanged at 11%, given 'inflation prospects'

Friday, September 5th 2014 - 02:14 UTC

Full article 2 comments

With Brazil battling recession and inflation a month away from the presidential election, the Central bank kept its key interest rate on hold at 11%. Traders and analysts had forecast no change and the central bank's monetary policy commission (Copom) duly decided to leave all quiet following its monthly two-day meeting. Read full article

Comments

Disclaimer & comment rules

313toBioBio
I think the Marina market optimism in Brazilian shares could have been a pump and dump like Obama's ambassador in Argentina trying to tell people money was flowing back in during June. If Marina starts to crack heads like a dozen Pinochets, then maybe brazil can go somewhere economically. I haven't really heard her say that there is a deep recession coming and severe austerity because of the enormous imbalances of the PT welfare and crack state. Marina left he PT at some point yes, but they had an unorthodox ideology and policy from day 1.
Sep 05th, 2014 - 03:31 am - Link - Report abuse 0
-+
ChrisR
““Assessing the evolution of macroeconomic scenario and the inflation prospects”, Copom unanimously decided to maintain the Selic rate at 11%”

In other words: we fucked up and we have no idea WTF to do now.

Even The Liar Mantega is in hiding because Mr. Market is looking for him with a ragman's trumpet and no vaseline.
Sep 05th, 2014 - 11:48 am - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!