The financial market believes the Selic, the benchmark interest rate, will drop tp 8.75% until the end of the year. Currently, it sits at 12.25%.
Author: Agência Brasil
Brazilian Central Bank data show economic activity dropped in January from December for the seventh month in a row, this time by 0.2%.
The unemployment rate of the December to February period reached 13.2%, according to the Brazilian Institute of Geography and Statistics. Both the rate and the number of unemployed are records.
Turkey, Lebanon, Jordan, Iraq and Egypt have taken in the majority of the people displaced by the civil war in Syria, which started six years ago.
If the projection proves true, then Brazil’s Extended National Consumer Price Index (IPCA) will be lower than the midpoint of the target range set by the monetary authority.
The Brazilian state-run Federal Savings Bank posted USD 1.3 billion in profit last year, down from USD 2.3 billion in 2015.
The International Labor Organization director-general said the number of jobless people will keep climbing for years to come and questioned countries’ approaches to addressing the economic crisis.
Results in the Focus Bulletin, a Central Bank poll of the expectations of Brazilian banks, went down for the third week back-to-back.
February saw Brazilian citizens spend USD 1.360 billion in trips to other countries, whereas foreign tourists disbursed USD 535 million in Brazil.
The government has launched a series of measures that, when fully implemented, will cut down times from 13 to 8 days for exports and 17 to 10 days for imports. For now, the new rules are only in effect in four airports.
Survey by Fundação Getulio Vargas registered a 2.9 points increase to 90.7 points, the best result since May 2014.
The Brazilian Ministry of Finance sees the economy growing by 0.5% this year, down from a prior forecast of 1%.
Official rate went up 0.15% in March. The price increase year-over-year is near the center of the established target of 4.5%.
Loans made by the Brazilian Development Bank (BNDES) totaled BRL 10 billion (USD 3.23 billion) in January and February, a decline of 16% over the same months of 2016.
