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Latin American Economy & Business - March 2013 (ISSN 1741-7430)
BRAZILIAN RESILIENCE
On April 12, the Banco Central do Brasil (BCB)’s Governor Alexandre Tombini and Finance Minister Guido Mantega indicated that the central bank will move in the near term to lift the benchmark Selic interest rate in response to mounting inflationary pressures. This decision comes at a time that some high frequency data releases have pointed to softness in demand. In fact, the weight of evidence points to resilience in domestic demand. Any tightening in policy is not taking place at the bottom of the economic cycle.
