Brazil's cen­tral bank aban­dons rate in­crease

The Pak Banker - - FRONT PAGE -

Brazil's real de­clined to the weak­est level in al­most four months af­ter the cen­tral bank re­frained from rais­ing bor­row­ing costs, sur­pris­ing most econ­o­mists.

Pres­i­dent Alexan­dre Tom­bini, in an un­usual state­ment re­leased by the cen­tral bank on Tues­day, said pol­icy mak­ers would take into ac­count the In­ter­na­tional Mon­e­tary Fund's fore­cast for a deeper re­ces­sion in Brazil this year.

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