RIO DE JANEIRO/BRASILIA, July 25 (Reuters) – Brazil’s
central bank on Friday announced measures to pump up to as much
as 45 billion reais ($20 billion) in credit into the country’s
ailing economy, weighed down by the highest borrowing costs in
nearly three years.
The bank said it was freeing up an estimated 30 billion
reais in the financial system through changes to banks’ reserve
requirements. Another 15 billion reais may be unlocked “over
time” by easing minimal capital requirements in credit
operations, a central bank official said.
BRASILIA, July 24 (Reuters) – Brazil’s central bank signaled
on Thursday it is unlikely to cut interest rates any time soon
and instead is focused on curbing naggingly high inflation even
as the economy flirts with recession.
In the minutes of its last policy meeting, the bank stressed
that interest rates at current levels should help ease inflation
in coming years. The comments quashed market speculation that a
rate cut could be on the horizon, sending interest-rate futures
BRASILIA, July 18 (Reuters) – The market is getting ahead of
itself if it thinks Brazil’s central bank could start cutting
interest rates again to rescue a weakening economy, a member of
the government’s economic team told Reuters.
With Brazil at risk of falling into a technical recession,
some investors are betting the central bank will loosen monetary
policy just a few months after deciding to pause a rate-hiking
cycle that has weighed on the economy.
BRASILIA, July 17 (Reuters) – China expanded its trade
partnership with Brazil on Thursday with $7.5 billion in
financing for Brazilian miner Vale, the purchase of 60 passenger
jets from planemaker Embraer and renewed commitment to invest in
In a raft of energy, finance and industry accords signed
before presidents Xi Jinping and Dilma Rousseff, the two nations
agreed to team up to build railways to help Brazil reduce its
infrastructure deficit and feed China’s hunger for commodities.
BRASILIA (Reuters) – China and Brazil sealed their expanding commercial partnership on Thursday with a $5 billion credit line for Brazilian miner Vale and the purchase of 60 passenger jets from Brazilian planemaker Embraer.
In a raft of energy, finance and industry accords signed before presidents Xi Jinping and Dilma Rousseff, the two nations agreed to join forces to build railways to help Brazil cut its infrastructure deficit and feed China’s appetite for commodities.
BRASILIA, July 16 (Reuters) – Brazil held interest rates
unchanged for a second straight time on Wednesday but did not
commit to keeping them stable for long as inflation remains high
in Latin America’s top economy.
The unanimous decision by the bank’s monetary policy
committee to hold the benchmark Selic rate at 11
percent was widely expected by the market after policymakers
ended a year-long tightening cycle at their last meeting.
BRASILIA, July 16 (Reuters) – Brazil will likely keep
interest rates steady for the second straight time on Wednesday
and signal it will leave them there for some time even after
inflation hit the ceiling of its target range.
At its last meeting on May 28, the central bank’s monetary
policy committee halted its year-long rate-hiking campaign and
held its benchmark Selic rate at 11 percent to give a respite to
an economy that is again flirting with recession.
FORTALEZA Brazil (Reuters) – Leaders of the BRICS emerging market nations launched a $100 billion development bank and a currency reserve pool on Tuesday in their first concrete step toward reshaping the Western-dominated international financial system.
The bank aimed at funding infrastructure projects in developing nations will be based in Shanghai and India will preside over its operations for the first five years, followed by Brazil and then Russia, leaders of the five-country group announced at a summit.
FORTALEZA Brazil (Reuters) – The five BRICS countries have not discussed coordinated forex intervention in global markets, but it is an idea “worth thinking about,” Reserve Bank of India (RBI) deputy governor Urjit Patel told Reuters on Tuesday.
The leaders of the five top emerging market economies agreed on Tuesday on a landmark deal to create a $100 billion development bank and a reserves fund of the same size to challenge Western dominance over global finances.
FORTALEZA, Brazil, July 15 (Reuters) – In two years of tough
negotiations to create the new BRICS development bank, the main
stumbling block was not a lack of resources or commitment, but
fellow partner China.
The Chinese initially wanted a bigger share of the bank that
was formally launched on Tuesday by the leaders of the five
BRICS countries in a direct challenge to the West’s tightly-held
grip over global finances, officials involved in talks said.