"Brazil now joins central banks from the U.S. to South Africa to Indonesia that are lowering borrowing costs as global activity slows. Local policy makers are rushing to the aid of an economy that’s expected to grow less than 1% this year amid headwinds including high unemployment, low confidence and weak investments. The central bank’s actions also come after the lower house of Congress backed a pension reform, thus mitigating the primary threat to inflation going forward."
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