Brazil’s central bank signaled it will keep cutting interest rates at its current half-point pace as it tries to prevent Europe’s spreading debt crisis from stunting growth in Latin America’s biggest economy.
Brazil’s central bank kept its options open for when it lifts interest rates to cool inflation running at a five-year high , after leaving its benchmark rate unchanged yesterday at President Henrique Meirelles ’ final board meeting. Yields fell across the board.
Meat lovers in Washington craving traditional Brazilian barbecue will pay less for it than fellow carnivores in Brasilia. The cheaper check shows that Latin America’s biggest economy is losing what its leaders have called a “currency war.”
Mexican Finance Minister Ernesto Cordero said the country’s recovery is “solid” even as he warned the U.S. Federal Reserve’s decision to pump $600 billion into its economy may be “bad news” for emerging markets.