Brazil property ‘could be affected by potential cut in interest’
Those looking for property in Brazil may be interested in an anticipated cut in the interest rate which has strengthened its currency.
It is expected that the country’s central bank will cut interest rates today (January 21st) for the first time in 16 months.
Marcelo Salomon, the chief economist at Unibanco, tells Bloomberg that there is the potential for a series of "bold and swift" cuts which could help to reduce this.
"Rate cuts will help reverse the economic slowdown by the start of 2010," he predicts.
Meanwhile, Alexandre Lintz, Banco BNP Paribas Brasil SA’s chief economist, tells the news provider there is a good macroeconomic situation for cutting interest rates.
In other news, information from the United Nations Conference on Trade and Development reports that Brazil has inverted a global trend and seen inflow of foreign direct investment (FDI) grow by 20.6 per cent in the last year.
Overall global FDI decreased by an estimated $1.4 trillion (£1.01 trillion), those who are looking at Brazilian property may be interested to discover.
