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Sep 12, 2014

Exclusive – Brazil assessing whether to cut key fiscal goal in 2014

BRASILIA (Reuters) – The Brazilian government is assessing whether to cut its most closely watched fiscal target in 2014 because revenues came in worse than expected and onetime expenditures climbed, Treasury chief Arno Augustin told Reuters on Friday.

This is the first time an official has publicly acknowledged that the government could reduce its 2014 primary budget surplus target of 99 billion reais (33 billion pounds), or 1.9 percent of gross domestic product. Markets have widely expected such a move.

Sep 12, 2014

Exclusive: Brazil studies slashing key fiscal goal in 2014 – official

BRASILIA (Reuters) – The Brazilian government is considering cutting its most closely watched fiscal target in 2014 as revenues came in worse than expected and one-off expenditures climbed, Treasury chief Arno Augustin told Reuters on Friday.

This is the first time a senior official has publicly admitted the government could reduce its 2014 primary surplus target of 99 billion reais, or 1.9 percent of gross domestic product. Markets have widely expected such a move.

Sep 11, 2014

Brazil’s Silva would end currency intervention programme

BRASILIA (Reuters) – Brazilian presidential candidate Marina Silva would if elected push for large budget cuts and end a programme supporting the currency in a bid to regain investor trust and revive the economy, a senior economic adviser told Reuters on Thursday.

Alexandre Rands, an economist who helped draft Silva’s economic plan, said she would eliminate a central bank currency intervention scheme that has kept the Brazilian real artificially strong for more than a year.

Sep 11, 2014

Exclusive: Brazil’s Silva would end currency intervention program

BRASILIA (Reuters) – Brazilian presidential candidate Marina Silva would if elected push for large budget cuts and end a program supporting the currency in a bid to regain investor trust and revive the economy, a senior economic adviser told Reuters on Thursday.

Alexandre Rands, an economist who helped draft Silva’s economic plan, said she would eliminate a central bank currency intervention scheme that has kept the Brazilian real artificially strong for more than a year.

Sep 11, 2014

Brazil central bank bets on stable rates to curb inflation

BRASILIA, Sept 11 (Reuters) – Brazil’s central bank signaled
it would keep interest rates high for some time to curb
inflation, resisting pressures to cut borrowing costs to help
lift the economy out of a recession.

In the minutes released Thursday from its last rate-setting
meeting, the bank said keeping interest rates at current levels,
the highest since 2012, would bring inflation down toward the
official target of 4.5 percent.

Sep 8, 2014

Brazil’s Mantega would leave in second term, Rousseff says

BRASILIA (Reuters) – Brazil’s President Dilma Rousseff said on Monday that Finance Minister Guido Mantega would not stay on if she is re-elected in October, reiterating her pledge to bring in a new cabinet in hopes of regaining the confidence of voters and investors.

In an interview with O Estado de S.Paulo that was broadcast live via webcast, Rousseff said Mantega told her he would step down at the end of December after eight years on the job, citing personal reasons.

Sep 4, 2014

Brazil keeps interest rates steady ahead of election

BRASILIA (Reuters) – Brazil held interest rates steady for a third straight time on Wednesday, signaling it is in no rush to help an economy that fell into recession just weeks before a heated presidential election.

The central bank’s monetary policy committee, known as Copom, unanimously decided to keep its benchmark Selic rate BRCBMP=ECI at 11 percent, as had been widely expected by both the market and analysts.

Sep 3, 2014

Brazil central bank keeps interest rates unchanged at 11 pct

BRASILIA, Sept 3 (Reuters) – Brazil held interest rates
steady for the third straight time on Wednesday, shrugging off
pressure to help an economy that fell into recession just weeks
before a heated presidential election.

The central bank’s monetary policy committee, known as
Copom, unanimously decided to keep its benchmark Selic rate
at 11 percent, as had been widely expected by both
the market and analysts.

Aug 28, 2014

Brazil’s Mantega says opposition win could wreck economy

BRASILIA (Reuters) – Brazil’s finance minister waded into the country’s presidential campaign on Thursday, warning that an opposition victory in the October election could push the economy into recession and undo a decade of social gains under the ruling Workers’ Party.

The comments by Guido Mantega, which the opposition and some analysts criticized as unbecoming of a sitting finance minister, came on the eve of the release of official data that is expected to show that Brazil, Latin America’s largest economy, is already in recession.

Aug 5, 2014

Brazil finance chief says economy to pick up after slow start

BRASILIA, Aug 5 (Reuters) – The Brazilian economy should
pick up in the second half of the year after a slow start and
hit more “reasonable” growth levels in 2015, Finance Minister
Guido Mantega told Reuters on Tuesday.

Slowing inflation and an expansion in credit, as well as a
recovery in mining and oil output, should help an economy that
was dragged down by high interest rates and a string of holidays
during the first half of 2014, he said.

    • About Alonso

      "Alonso has worked for more than a year covering commodities in the world's top copper producer Chile. A native of Nicaragua he has workers for Thomson Reuters for nearly five years with several stints in other Latin American countries. He is a University of Missouri-Columbia graduate."
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