Brazil holds steady ‘despite market fall’
Brazil’s central bank is holding steady despite "market fall" in the global economy.
The bank’s monetary committee has announced that it will hold its main reference interest rate of 11.25 per cent after "assessing the macroeconomic situation".
A spokesperson for the committee said: "[We will] follow the evolution of the macroeconomic situation until the next meeting (on March 5th) to then determine the next steps for monetary policy."
The current rate is at a record low after 18 cuts in a row, which marks the longest cycle of interest rate easing in the nation since 1999.
Brazilian economists have made a series of positive announcements over the past few weeks, highlighting good performances over a range of sectors.
The nation’s paint industry announced this week that it had achieved sales of one billion litres – an eight per cent increase compared with 2006 – while the nation’s chicken exports were up by 21 per cent.
Good economic progress in Brazil may be of interest to those thinking of investing in the nation, as it may have a positive effect on property prices.
For more information on Brazil property investment and to find out about uv10’s latest projects, contact uv10 on 0845 643 1036 or email info@uv10.com or visit our website: http://www.uv10.com
