Brazil leaves rate unchanged at 14.25%; stubborn inflation despite recession

Thursday, July 21st 2016 - 07:29 UTC

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Brazil's central bank, with its recently appointed president, kept interest rates on hold for the eighth consecutive meeting on Wednesday as expected, despite a deep recession, as the new board cited concern about stubbornly high inflation and uncertainty surrounding economic reforms. Read full article

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ChrisR
“nine-member board voted unanimously to leave the benchmark Selic rate at 14.25%, a nearly 10-year high. The rate has remained unchanged for a year.”
AND
”“Taken together, the basic scenario and current balance of risks indicate there is no room to flexibilize (WTF!) monetary policy,”

So, businessmen wanting to expand and need to loan money are expected to carry a huge cost of keeping these 'wankers' hard at work making stupid decisions?

That will never work.

Remember what the definition of stupidity is: doing the same thing everytime and expecting a different outcome. Somebody should point that out to these idiots in charge of the rate.
Jul 21st, 2016 - 08:03 pm - Link - Report abuse 0
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