Arab Today, arab today brazil maintains key interest rate at 725
Last Updated : GMT 03:25:41
Arab Today, arab today
Arab Today, arab today

Brazil maintains key interest rate at 7.25%

Arab Today, arab today

Arab Today, arab today Brazil maintains key interest rate at 7.25%

Brasilia - AFP

Brazil\'s central bank kept its key interest rate unchanged at 7.25 percent Wednesday, ending a series of cuts since last year, as the world\'s sixth largest economy tries to contain inflation. The bank said that as it weighed inflationary risks, prospects for economic recovery and the complexity of today\'s international financial situation, it concluded that \"stability in monetary conditions for a sufficiently long period is the right strategy for achieving\" its inflation goal of 4.5 percent. The decision fell in line with analyst expectations -- some 100 monetary institutions consulted by the Central Bank weekly concurred that the bank\'s monetary policy committee Copom was likely to maintain the benchmark rate. Alex Agostini, chief analyst at the Austin Rating institute, said before the decision: \"We expect the central bank to keep its rate at 7.25 percent until mid-2013.\" Last month, the central bank slashed its interest rate for the 10th time since August last year, to a record low of 7.25 percent, in a bid to stimulate the sluggish South American economy. When the cut strategy began, the interest rate stood at a historic high of 12.5 percent and inflation, at 7.2 percent, exceeded the government\'s target. Brazil lost steam last year, with economic growth slowing to 2.7 percent, down from a sizzling 7.5 percent in 2010. In the first half of this year, the economy expanded only 0.6 percent compared with the same period in 2011, but officials are banking on better results in the second half. Market analysts expect 1.5 percent growth this year, and a more solid 3.9 percent next year. \"The worst is behind us. There is no doubt that third-quarter figures are better. We are heading for a rebound next year,\" said Marcelo Carvalho, chief economist of Paribas for Latin America. Market analysts appear to be mainly concerned about inflation. \"We continue to believe that inflation is the main issue... It will exceed 6.5 percent next year,\" warned Carvalho, adding that authorities then would have to order new rate hikes. Experts expect inflation to reach 5.4 percent this year, above the official target of 4.5 percent. Last year, consumer prices rose 6.5 percent, their highest level in seven years.

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 maintains key interest rate at 725 Arab Today, arab today brazil maintains key interest rate at 725

 



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 maintains key interest rate at 725 Arab Today, arab today brazil maintains key interest rate at 725

 



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
View News in Arabic - Business: نفط وبتروكيماويات
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