Government Monetary Policy

November 2008
Brazil Tourism Report;Q4 2008, p10
Industry Profile
The article offers information on the government monetary policy in Brazil for 2008. Banco Central do Brasil (BCB) will continue to hike interest rates aggressively, with at least another 200 basis points of hikes in 2008 to 14.25%. As a result, consumer price index (CPI) eased slightly to 0.7%, while food inflation continued to increase. Moreover, it expects that imported inflation will not affect the economy because the market is priced with an aggressive interest rate hiking cycle.


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