Brazil’s economy may have grown by 3 percent in 2012, three times as much as originally reported, according to an ongoing review of GDP data that could solve one of the biggest economic puzzles since the global financial crisis.
If accurate, estimates from local consultancy LCA would help explain why unemployment remained so low and consumer prices failed to ease when Latin America’s economy looked so weak.
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 16 (Reuters) – May retail sales in Brazil
rose at the fastest pace in six months as the soccer World Cup
helped to boost sales of television sets, government data showed
Retail sales volumes in Brazil rose 0.5 percent in May from
April, the strongest increase since November 2013,
statistics agency IBGE said.
BRASILIA, June 26 (Reuters) – Brazil’s inflation will start
to subside next year after economic growth slows further, the
central bank said on Thursday, reinforcing expectations that it
will not raise interest rates in the near future.
In its quarterly inflation report issued on Thursday, the
bank lowered its 2014 economic growth forecast to 1.6 percent
from 2 percent previously, faltering from 2.5 percent growth