Clik here to view.
Falling out of love with the BRL?
Not so long ago everyone and their grandmother was buying it. But has the Brazilian real finally fallen out of favour with investors? Central bank data show that Brazilian banks turned bearish on the...
View ArticleClik here to view.
Brazil: another rate cut in the cards
What else would you do if inflation persistently comes in above target? Cut interest rates, of course. Brazil’s central bank certainly likes to keep everyone guessing these days. Policymakers shocked...
View ArticleClik here to view.
Brazil’s two-speed economy and currency
Economists last year grew accustomed to talking about Brazil’s economy as characterised by having one foot on the brake and the other on the accelerator. The brake was interest rates as the central...
View ArticleClik here to view.
Brazil’s inflation-targetting regime under siege
A bill making its way through Brazil’s Senate confirms what many economists have suspected for a while. Politicians in Brasília are preparing to widen the central bank’s mandate to focus not just on...
View ArticleClik here to view.
Brazil central bank: anything but staid
Back in August, the central bank started slashing interest rates even though annual inflation was above the already generous inflation target of 4.5 per cent, plus or minus 2 percentage points. When...
View ArticleClik here to view.
Brazil capital markets: more to do
Brazil’s capital markets are growing up fast. From a slow start, of fewer than 10 initial public offerings in the decade up to 2003, they have recently sped up and in 2007 alone hosted 86 equity deals...
View ArticleClik here to view.
Brazil’s economy: still two-speed
Just when we thought the two-speed element of Brazil’s economy was coming to an end, new credit numbers have come out that show the consumer is still racing along. Even as industrial output has gone...
View Article[Snap] Brazil cuts rates by 50bp
Brazil’s central bank cuts interest rates by 50 basis points to 11 per cent, as expected. Here’s the (very short) statement: Continuing the process of adjusting monetary conditions, the central bank’s...
View ArticleClik here to view.
Happy 2012! Brazil’s new year bond sale
What better way to start the new year than by holding a bond sale and showing everyone who is boss. Brazil once again flaunted its enviable position in global debt markets on Tuesday by selling $750m...
View ArticleClik here to view.
2011: A year of two halves for the real
No wonder Brazil’s finance minister, Guido Mantega, got in such a huff about the strength of the real last year, inciting a global currency war wherever he went. New data from the central bank on...
View Article[Snap]: Brazil cuts rates by 50bp
Brazil’s central bank has cut its benchmark interest rate by 50 basis points to 10.5 per cent. No surprises there, then. Here’s the accompanying statement:Continue reading »
View ArticleClik here to view.
Brazil’s Selic: coming down, for now
Photo: Bloomberg Two bits of data released by Brazil’s central bank on Monday make it even more likely the bank will cut its policy interest rate to within a whisker of its all-time low on Wednesday....
View ArticleClik here to view.
Brazil central bank: we really are independent!
When a central bank has to release a press statement reminding everyone that it remains an autonomous institution and is not under political pressure from the government, you know something is...
View ArticleClik here to view.
Brazil central bank workers see red over inflation
We all know about the backlash against the corporate chief executives who try to award themselves extravagant pay raises even after delivering rubbish financial results. But what about employees of...
View ArticleClik here to view.
Chile powers ahead but concerns remain
Brazil and Argentina must be green with envy. Economists are increasingly downbeat on Brazil’s growth, cutting their 2012 forecast again (to 1.75 per cent). Argentina’s latest official data, showing...
View ArticleClik here to view.
Brazil: Cruzeiro bondholders crucified
Banco Cruzeiro do Sul, literally Southern Cross Bank, is the kind of horror story every regulator should fear. Though small and systematically irrelevant, the flagrant malpractice allegedly committed...
View ArticleClik here to view.
What price Brazil’s real? 2 per US dollar will do nicely
For much of this year, the Brazilian real has been one of the world’s worst-performing currencies. That largely served Brasilia well: it wanted a weaker real to help boost the slowing Brazilian...
View ArticleClik here to view.
Brazilian GDP: sign of a pulse?
After a few weeks of mixed news on the economy, could it be that the government’s “salt bath” (or banho de sal grosso in Portuguese), which in Brazilian superstition is something one does to ward off...
View ArticleClik here to view.
Guest post: Brazil’s self-imposed “sudden stop”
By Tony Volpon of Nomura Why has growth in Brazil been so disappointing these past two years, falling from 7.5 per cent in 2010 to below 1 per cent in 2012? There are two competing responses. The...
View ArticleClik here to view.
Brazil’s central bank: gnashing and wailing [updated]
Imagine being in the shoes of Brazil’s central bank president Alexandre Tombini (pictured) on Wednesday. Beyondbrics pictures the scenario as something like this: Mr Tombini was sitting at his desk...
View Article
