Arab Today, arab today brazil expects fresh rate rise
Last Updated : GMT 20:05:50
Arab Today, arab today
Arab Today, arab today

Brazil expects fresh rate rise

Arab Today, arab today

Arab Today, arab today Brazil expects fresh rate rise

Brazil was bracing for interest rate hike
Brasília - AFP

Brazil was bracing Tuesday for a sixth straight interest rate hike as the central bank prepared to step up efforts to tackle rising inflation amid an economic downturn.

Analysts expect the bank's monetary policy committee (Copom) will Wednesday raise the key rate from 13.25 percent, already the highest level since January 2009, by 0.5 percentage points as Latin America's largest economy fights to keep a lid on rising prices.

"There is consensus on a half-point rise. We understand the central bank is firm regarding the struggle against inflation," ICAP investments economist Juliano Ferreira told AFO in Sao Paulo.

"The central bank wants to bring inflation down to its central target (4.5 percent) in 2016, not just below the tolerance threshold" of 6.5 percent, Ferreira said regarding a decision the bank will unveil after the market closes Wednesday.

April saw 12-monthly inflation hit 8.17 percent in the world's seventh-largest economy, adding to the woes of a country already hit by five years of unrelenting low growth.

Government and International Monetary Fund forecasts expect GDP to contract between 1.0 and 1.2 percent this year, which would be the worst showing in a quarter of a century.

Earlier Tuesday, the national statistical institute IBGE indicated industrial production slid 1.2 percent in April.

Analysts forecast interest rates will close out the year at 14 percent before falling back.

Industry has voiced concern about the cost of obtaining credit during a slowdown as rates continue to rise.

Brazil last month announced a package of spending cuts worth some $23 billion designed to put the country on track toward achieving an ambitious surplus of 1.2 percent of GDP this year and 2.0 percent in 2016–17.

The cuts are the largest in the 12 years that the ruling Workers Party has been in office.

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 expects fresh rate rise Arab Today, arab today brazil expects fresh rate rise

 



Arab Today, arab today
Arab Today, arab today Reveals his participation in "Fashion Star" TV show

GMT 12:49 2017 Wednesday ,01 March

Reveals his participation in "Fashion Star" TV show
Arab Today, arab today Tabarka beauty between sea, mountain

GMT 06:37 2017 Wednesday ,01 March

Tabarka beauty between sea, mountain
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Russia, China veto UN resolution

GMT 07:27 2017 Wednesday ,01 March

Russia, China veto UN resolution
Arab Today, arab today NUMP's conference to discuss proplems

GMT 13:40 2017 Wednesday ,01 March

NUMP's conference to discuss proplems

GMT 06:20 2017 Tuesday ,28 February

Beijing to speed up approval of IPOs

GMT 05:15 2017 Tuesday ,28 February

Funds prepare $2bn oil market play as supply tightens

GMT 05:34 2017 Monday ,27 February

Brexit sows seeds of doubt for British farmers

GMT 06:38 2017 Sunday ,26 February

US rig count increases
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Lasers flesh out dino-bird profile

GMT 12:24 2017 Wednesday ,01 March

Lasers flesh out dino-bird profile
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Najla Badr will participate in “30 Days” drama

GMT 06:23 2017 Monday ,27 February

Najla Badr will participate in “30 Days” drama
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:54 2017 Wednesday ,01 March

Shanghai expands public smoking ban

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:27 2017 Wednesday ,01 March

GSMA: 5 billion mobile phone users in 2017

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
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