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Dec 17, 2014

EU steps up trade dispute with Brazil at WTO

BRASILIA, Dec 17 (Reuters) – The World Trade Organization on
Wednesday decided to set up a panel to rule on European Union
complaints that Brazil unfairly raised import duties, escalating
differences as the two sides try to reach a long-delayed trade
pact.

The WTO’s dispute settlement body agreed to establish a
panel of experts to rule on the case after the European Union
decided raise its complaint to formal litigation. Past decisions
have sometimes taken several years.

Dec 16, 2014

Brazil’s Tombini says FX intervention to continue in 2015

BRASILIA, Dec 16 (Reuters) – Brazil’s central bank will
decide in the coming days on new terms for its currency swap
program for 2015, extending its intervention in foreign exchange
markets to contain a sharp slide of the Brazilian real
that has stoked inflation.

Central bank chief Alexandre Tombini repeated on Tuesday
that the bank’s forex intervention program has met its goals and
that the current stock of swaps has fulfilled businesses’ demand
for currency protection.

Dec 15, 2014

Surprise drop in Brazil economic activity points to weak fourth-quarter

BRASILIA (Reuters) – Economic activity in Brazil posted a surprise drop in October, after Latin America’s top economy barely struggled out of recession in the third quarter, central bank data showed on Monday.

The central bank’s IBC-Br economic activity index BRIBC=ECI dropped 0.26 percent month-on-month in October in seasonally adjusted terms, well bellow market estimates for a 0.20 percent increase.

Dec 15, 2014

Surprise drop in Brazil economic activity points to weak Q4

BRASILIA, Dec 15 (Reuters) – Economic activity in Brazil
posted a surprise drop in October, after Latin America’s top
economy barely struggled out of recession in the third quarter,
central bank data showed on Monday.

The central bank’s IBC-Br economic activity index
dropped 0.26 percent month-on-month in October in
seasonally adjusted terms, well bellow market estimates for a
0.20 percent increase.

Dec 11, 2014

Brazil central bank signals smaller interest rate hike

BRASILIA, Dec 11 (Reuters) – Brazil’s central bank signaled
on Thursday it may slow the pace of monetary tightening at its
next meeting as it expects the government to limit spending and
inflation to ease in coming years.

In the minutes of its last rate-setting meeting, the bank
said inflation could accelerate in the short term and remain
high, but price increases should begin to slow in 2015.

Dec 4, 2014

S&P says Levy appointment signals positive policy shift in Brazil

BRASILIA, Dec 4 (Reuters) – The appointment of fiscal
conservative Joaquim Levy as Brazil’s finance minister sent a
stronger-than-expected message of positive policy changes during
President Dilma Rousseff’s second term, Standard & Poor’s senior
analyst Lisa Schineller told Reuters on Thursday.

Following her narrow re-election victory in October,
Rousseff vowed to streamline government spending to regain
investor confidence after years of intervention in the economy.

Dec 4, 2014

Brazil’s Levy aims for fiscal credibility with new estimates

BRASILIA (Reuters) – The Brazilian government aims to bolster its fiscal credibility using more moderate economic growth estimates to set future savings goals, a government official briefed on the decision told Reuters on Thursday.

President Dilma Rousseff’s government used estimates from private economists to set its primary surplus goals for the next three years, according to the new 2015 federal budget guidelines. It slashed its 2015 growth estimate to 0.8 percent from 3 percent.

Dec 3, 2014

Brazil steps up monetary tightening to regain investor confidence

BRASILIA (Reuters) – Brazil raised its key interest rate on Wednesday to a three year high, accelerating monetary tightening in a bold move to quell inflation and reinforce President Dilma Rousseff’s shift toward more business-friendly policies.

In a unanimous vote, the central bank’s monetary policy committee raised its benchmark Selic rate by 50 basis points to 11.75 percent, its highest since August 2011.

Dec 3, 2014

Brazil set to hike interest rates, may speed tightening

BRASILIA, Dec 3 (Reuters) – Brazil’s central bank is poised
to raise interest rates on Wednesday, but analysts are split on
whether it will accelerate monetary tightening to help President
Dilma Rousseff regain investors’ trust.

Twenty-nine of the 49 economists surveyed by Reuters last
week expected the central bank to raise its benchmark Selic rate
by 25 basis points to 11.50 percent, the highest
rate since January 2012. The rest say the central bank will hike
rates by a bolder 50 basis points.

Dec 3, 2014

Brazil set to hike rates, may speed tightening to up confidence

BRASILIA, Dec 3 (Reuters) – Brazil’s central bank is poised
to raise interest rates on Wednesday, but analysts are split on
whether it will accelerate monetary tightening to help President
Dilma Rousseff regain investors’ trust.

Twenty-nine of the 49 economists surveyed by Reuters last
week expected the central bank to raise its benchmark Selic rate
by 25 basis points to 11.50 percent, the highest
rate since January 2012. The rest say the central bank will hike
rates by a bolder 50 basis points.

    • 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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