Tag: Brazil economy

• Friday, September 11th 2015 - 09:41 UTC

  Brazilian Real falls to its lowest against the dollar since 2002; central bank injected funds

  

  A day after Standard & Poor’s slashed Brazil’s credit rating to junk, the Brazilian Real lost close to 2% by the end of the day to 3.865 per dollar—its weakest level since 2002. In an effort to stem the decline, Brazil’s central bank injected $1.5 billion into the financial system Thursday.

• Thursday, September 10th 2015 - 08:50 UTC

  Business lobbies feeling the pinch, impatient with Rousseff's budget cuts

  

  After months of trying to shore up Brazil's public finances, President Dilma Rousseff now faces political and business pressure to ease up on painful austerity measures in a country long hooked on the helping hand of a big state.

• Wednesday, September 9th 2015 - 08:10 UTC

  No end to Brazil's bad news: two consecutive years of recession ahead

  

  Analysts expect Brazil's economy to contract by 2.44% this year, marking the worst performance since 1990, and inflation will hit 9.29%, the Central Bank said Tuesday. The latest figures represent a downward revision from last week, when analysts expected Latin America's largest economy to contract by 2.26% and inflation to come in at 9.28%.

• Tuesday, September 1st 2015 - 07:08 UTC

  Brazil Central bank survey says economy will shrink 2.26% this year and 0.40% next year

  

  Analysts expect Brazil's economy to contract by 2.26% this year, reflecting greater pessimism in the wake of the release of figures last week showing that the country is in a recession, the Central Bank said Monday.

• Wednesday, August 26th 2015 - 06:46 UTC

  Brazil economy to contract 2.06% and 0.24% next year, says Central bank survey

  

  Analysts expect Brazil's economy to contract by 2.06% this year, with the inflation rate coming in at 9.29%, the Central Bank said Monday. GDP estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.

• Friday, August 21st 2015 - 07:41 UTC

  Rousseff admits a year of recession because of 'massive economic difficulties”

  

  A slump in commodity markets will burden the global economy for some time to come, Brazilian President Dilma Rousseff told Germany's Handelsblatt business daily, adding she hoped the Brazilian economy would pick up in a year.

• Friday, August 21st 2015 - 06:57 UTC

  Brazil's July unemployment up for a seventh straight month

  

  Brazil's unemployment rate rose for a seventh straight month in July to the highest in over five years, government data showed on Thursday. The non-seasonally adjusted jobless rate rose in July to 7.5% from 6.9% in June, statistics agency IBGE said.

• Thursday, August 20th 2015 - 06:32 UTC

  Brazil in recession, according to the Central Bank's economic activity index

  

  Economic activity in Brazil fell more quickly than expected in June, central bank data showed on Wednesday, adding to evidence that the once-booming economy is suffering a painful recession. The Brazilian central bank's IBC-Br economic activity index fell 0.58% in June from the prior month, the bank said in a report released on Wednesday.

• Saturday, August 15th 2015 - 07:27 UTC

  Massive protest turnout on Sunday could decide Brazilian president's future

  

  Hundreds of thousands of angry of citizens are expected to take to the streets of more than 114 Brazilian cities on Sunday as allegations of corruption and incompetence swamp the government, and plummeting commodity prices sap its economy, posing a key test for President Dilma Rousseff.

• Wednesday, August 12th 2015 - 07:30 UTC

  Moody's tough on Brazil but also confident on a mid term growth rebound

  

  Moody’s Investors Service cut Brazil’s credit rating to near-junk status on Tuesday but said the country’s coveted investment grade status is safe for now, proving some relief to investors and the government of President Dilma Rousseff.