Category: Macroeconomics
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Central Bank in Brazil Forcasts 2016 Inflation Above Target Ceiling
While there was a consensus among financial analysts that consumer inflation in Brazil would top ten percent this year, the latest report by the Central Bank (CB) shows that analysts’ forecasts for 2016 inflation are also above the target limit of 6.5 percent. According to financial institutions surveyed by the CB for its Focus Report,…
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Foreign Investors Buy into Brazil, Lead M&A Activity
Brazilian companies are the cheapest they have been in years, presenting bargain hunters with prime buying opportunities.But foreign investors appear to be keener on the nation’s prospects than Brazilians, many of whom are spooked by the political turmoil that is worsening the nation’s economic slowdown. Earlier this month, New York’s Coty Inc. agreed to pay…
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Brazil keen to further strengthen trade ties with India
Brazil today called for expanding a trade pact with India by adding more products such as frozen chicken (whole) and processed soyabean in the tariff agreement and also stressed on technology transfer and investment in agriculture research. Brazil is also keen to export ethanol and milk products to India and boost shipments of edible oils. India…
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Europe’s Top Banks Are Cutting Losses Throughout Latin America
European banks are on the retreat all across Latin America.Societe Generale SA announced in February that it’s dismissing more than 1,000 workers while exiting the consumer-finance business in Brazil. In August, HSBC Holdings Plc sold its unprofitable Brazilian unit, with more than 20,000 employees. Two months later, it was Deutsche Bank AG’s turn. The German…
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Shares Drop As Commodity Saga Continues, Finance Minister Out?
Some headlines from Brazil, with the iShares MSCI Brazil Capped exchange-traded fund (EWZ) down 2.4% Local press reports in Brazil Wednesday said Brazil’s Finance Minister Joaquim Levy could be replaced within months as the economy and currency collapse. Brazil President Dilma Rousseff may choose Henrique Meirelles, a former central bank president. Brazil’s government says it…
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Foreign investment in Brazil grows in September, covers external gap
Brazil’s current account deficit grew wider than expected in September but was easily covered by foreign investments, central bank data showed on Friday. Brazil posted a current account deficit of $3.076 billion in September, larger than a gap of $2.487 billion in August and the $2.3 billion deficit forecast by economists for the month, central…
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World Bank to help Brazil pilot new infrastructure financing project
Brazil is launching a new “Project Bond” model, developed by the World Bank Brazil is launching a new “Project Bond” model, developed by the World Bank (WB) at the request of the country’s government, with the aim of increasing the role of capital market in financing infrastructure projects. “We expect this new product to help…
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Brazilian Real rebounds after central bank vows to intervene
• The real enjoyed a massive rally on Thursday after the governor of Brazil’s central bank vowed to use “all instruments” available to policymakers to stem the currency’s recent slide.• Busting a five-day losing streak, the real rallied as much as 7% intraday, its biggest gain since November 2008. • On Wednesday, the bank announced…