Tag: Brazil economy

• Thursday, October 22nd 2015 - 07:09 UTC

  Brazil leaves Selic rate unchanged at 14.25%; inflation the target but with no timetable

  

  Brazil's central bank kept interest rates on hold on Wednesday, for a second straight month despite a jump in inflation expectations. The decision not to raise rates will give a breather to President Dilma Rousseff, who is fighting for her political survival amid the country's worst economic and political crisis in 25 years.

• Monday, October 19th 2015 - 07:11 UTC

  Economic activity in Brazil plunges 4.47% in the last twelve months to August

  

  Economic activity in Brazil fell for a third straight month in August, Central Bank data showed, adding to evidence of a steeper-than-expected recession in the country. The figures were unveiled on the same day the government dismissed rumors over the resignation of Finance Minister Joaquim Levy.

• Tuesday, October 13th 2015 - 07:13 UTC

  Pacific Alliance members outstand in Latin American performance, says IMF

  

  Brazil is still by far the largest economy in Latin America despite its recession and the impact of the devaluation of the Real, according to the latest report from the International Monetary Fund (IMF), which said Venezuela dropped to the position of the region’s seventh-largest economy with a GDP that’s now half the size of Colombia’s.

• Thursday, October 8th 2015 - 12:08 UTC

  Brazil's inflation eases in September but still too close to two digits

  

  Inflation in Brazil has eased for second consecutive month, which takes some pressure of the central bank to hike rates further. The Real has also gained pace last month after the central bank promised to do whatever it takes to stem the Brazilian currency's slide. The Real has strengthened to 3.84 per dollar after touching new all-time high of 4.247 per dollar only a couple of weeks ago.

• Thursday, October 8th 2015 - 10:21 UTC

  With Brazil contracting 3%, Latin America's economy will shrink 0.3%, says IMF report

  

  The International Monetary Fund said today that it now expects Latin America's economy to shrink 0.3% this year instead of growing 0.5%, largely due to a steep recession in Brazil and slumping commodity prices. It would be the first recession for the Latin American and Caribbean region since 2009.

• Wednesday, October 7th 2015 - 10:21 UTC

  Brazil's September auto production down 42.1% compared to a year ago

  

  Brazil’s auto industry produced 174,200 units last month, down 19.5% from August and a whopping 42.1% from September 2014, the national Association of Car Manufacturers, or Anfavea, said on Tuesday.

• Tuesday, October 6th 2015 - 08:11 UTC

  Brazil's GDP expected to contract 2.85% this year, says central bank survey

  

  Economists again cut their outlook for Brazil's economic performance for this year, as consumer and business confidence continue at historic low levels. Brazil's GDP is expected to contract 2.85% this year, according to a weekly central-bank survey of 100 economists, compared with expectations last week for a contraction of 2.80%.

• Saturday, October 3rd 2015 - 07:55 UTC

  Rousseff's main coalition ally, “110 satisfied” with latest changes, but 'there's some fat left'

  

  Brazil largest party, main ally and pillar of President Dilma Rousseff's fragile coalition said it was “110% satisfied” with the changes announced on Friday: reducing cabinet posts from 39 to 31, slashing thousands of coveted jobs for political appointees and cutting her salary and that of the vice president by 10%.

• Friday, September 25th 2015 - 07:17 UTC

  Brazil's Real recovers ground after Central bank promises to use all 'instruments available'

  

  Brazil's depressed currency rebounded Thursday after the head of its central bank vowed to use all instruments in its arsenal to curtail the Real's collapse. Earlier in the day the Real tumbled to an all-time low of 4.248 to the U.S. dollar, but bounced back to 4.023 after central bank President Alexandre Tombini, in an unscheduled press briefing, did not rule out selling part of the country's $371 billion foreign reserves to calm the exchange rate market.

• Wednesday, September 16th 2015 - 09:45 UTC

  Rousseff's latest austerity measures, 'hard to pass' warn congress leaders

  

  President Dilma Rousseff's latest austerity plan to rescue Brazil's sinking economy faced a cold reception Tuesday, with Congress raising questions over whether the measures will win approval. The speaker of the lower house of Congress and one of Rousseff's chief foes, Eduardo Cunha, dismissed the measures as “pseudo cuts” and predicted they would not easily pass.