Ilan Goldfajn News
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China will help the Inter-American Development Bank finance $12 billion in loans for Latin America and the Caribbean this year as the region struggles to recover from the global financial crisis.
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As a doctoral student in economics at the University of Illinois, Alexandre Tombini sent opponents limping off the soccer field with his heavy tackles.
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Swaps traders are capitulating to Goldman Sachs Group Inc. as bigger-than-forecast declines in wholesale prices prompts them to push out their bets on when the central bank will raise interest rates.
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Brazil’s inflation unexpectedly accelerated as central bank President Alexandre Tombini reiterated his plan to hold interest rates at their current level, while investors bet on more cuts next year.
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Brazilian swap rates tumbled to a record as Itau Unibanco Holding SA forecast the central bank will resume cutting borrowing costs next year to bolster an economy that grew at half the pace analysts projected.
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Brazil’s inflation rate will remain around 5.5 percent, above the central bank’s target, Itau Unibanco Holding SA’s chief economist told reporters in London.
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Yields on Brazilian interest-rate futures contracts fell to a one-month low after the central bank signaled it would maintain its pace of interest-rate cuts at a policy meeting yesterday.
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The Bovespa index dropped as Usinas Siderurgicas de Minas Gerais SA led Brazilian raw-material producers lower after data showing the euro area fell into a recession added to concern the global expansion is faltering.
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Brazil’s economy will grow at a faster, “Chinese-like rate” this year as a result of a stronger global economy and measures taken to stimulate domestic demand, Itau Unibanco Holding SA said.
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Brazil may reduce duties on steel imports in a bid to contain inflation after wholesale prices rose the most in two years, Finance Minister Guido Mantega said.
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