BRASILIA (Reuters) – Brazil’s central bank is widely expected to raise interest rates for a second straight meeting next week, tightening its grip on inflation but weighing further on sluggish economic growth, a Reuters poll showed on Friday.
All the 49 economists surveyed agreed the central bank will raise borrowing costs on Dec. 3 from the current 11.25 percent BRCBMP=ECI.
BRASILIA, Nov 28 (Reuters) – Brazil’s economy crawled out of
a recession in the third quarter as public spending rose before
presidential elections, suggesting growth could be short-lived
as the government plans to tighten its budget.
The economy grew 0.1 percent in the third quarter from the
previous period, resuming expansion after two
consecutive quarters of contraction, government statistics
agency IBGE said on Friday. The result missed the median
forecast of 0.3 percent growth in a Reuters poll of 36 analysts.
Brazil’s newly-re-elected government is set to announce on Friday that the recession that began at the start of 2014 is now over. But a minefield of risks surrounding Latin America’s largest economy recommends caution before celebration.
How to quantify the damage from an unprecedented police investigation that could incriminate dozens of politicians within Rousseff’s coalition? How to measure the harm caused by the ongoing U.S. Department of Justice investigation into Petrobras, the giant oil company that represents alone one tenth of all investments in Brazil, according to some estimates?
BRASILIA (Reuters) – Brazil probably escaped recession in the third quarter due to higher government spending, a Reuters poll showed on Tuesday, suggesting the economy is particularly vulnerable to potential budget cuts currently in the works.
Data due out on Friday will likely show Brazil’s gross domestic product BRGDP=ECI grew by a seasonally adjusted 0.3 percent from July through September from the previous three months, according to the median forecast of 36 economists.