Arab Today, arab today brazil central bank hikes base rate to 1225
Last Updated : GMT 03:28:10
Arab Today, arab today
Arab Today, arab today

Brazil central bank hikes base rate to 12.25%

Arab Today, arab today

Arab Today, arab today Brazil central bank hikes base rate to 12.25%

Brasilia - AFP

Brazil\'s central bank boosted its main interest rate to 12.25 percent, a quarter-point increase, extending its effort to rein in inflation in the booming South American economy. The increase keeps the base rate at the highest in the G20 group of developed and emerging economies and was the fourth hike this year. The quarter-point rate increase, decided unanimously, continues the \"gradual adjustment of monetary policy\" aimed at keeping prices under control, a statement from the central bank said. The latest figures for May showed a 0.47 percent increase in prices, below the April pace of 0.77 percent but over 12 months inflation has been running at 6.55 percent, topping the official target of 4.5 percent. President Dilma Rousseff, who only took over from predecessor Luiz Inacio Lula da Silva on January 1, had promised to bring the rate down, but has been caught by rising consumer prices. Although hiking the interest rate will make credit more expensive in Brazil, it will also further enhance the country\'s allure to foreign investors who are guaranteed rate-linked returns higher than for any other big economy in the world. That will inevitably push the real up further against the dollar -- which can hurt the economy by making exports more costly. The real has already soared more than 100 percent against the greenback over the past eight years. \"Even though inflation fell in May, it is still very high. The Central Bank is worried and wants to bring it down in 2012 and 2013 to a level as close to 4.5 percent as possible,\" economist Silvia Matos told AFP. Apart from inflation, Brazil also has the highest interest rate of all of the G20 group which brings together the main industrialized and developing nations. The government has already said that it is hoping for a GDP growth of around 4.5 percent to 5.0 percent this year, much lower than the 7.5 percent recorded in 2010. But analyst Matos said he believed Brazil\'s growth this year would only be 3.9 percent, reaching 4.1 percent in 2012.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today brazil central bank hikes base rate to 1225 Arab Today, arab today brazil central bank hikes base rate to 1225

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today brazil central bank hikes base rate to 1225 Arab Today, arab today brazil central bank hikes base rate to 1225

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday