Brazil economy is ‘prosperous and resilient’
Brazil is starting to see signs of economic recovery, following the global recession, and the central bank is likely to slow the level of interest rate cuts.
Experts reviewed by Bloomberg said the recession in the country may be milder than some analysts predicted, with the cut in the Selic rate expected to be 0.75 percentage points, rather than the one point reductions seen recently.
Zeina Latif, chief economist at ING Bank NV in Sao Paulo, told the news agency that Brazil has "clearly rebounded", which is good news for Brazilian property owners.
Paulo Leme, chief Latin American economist at Goldman Sachs, said: "Brazil’s economy is ready to grow again since the banking system remains solid and wealth was not destroyed."
He added that the future of the country is "prosperous", while analysts at broker dealer Itaú Securities stated it has a "resilient domestic economy".
Further good news for Brazilian property owners came yesterday when the country’s currency, the real, closed stronger against the dollar than the previous day.
