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Weekly Report - 01 August 2013 (WR-13-30)
BRAZIL: Tombini frets over confidence
In an extensive interview with the Brazilian newspaper O Estado de Sao Paulo, the central bank president, Alexandre Tombini, said that he was engaged in a campaign to restore public confidence in the economy. Following June’s country-wide protests, growth is widely expected to have slowed over the past two months. Inflation is running at 6.5% and the central bank has intervened heavily in the market over recent days to prevent the Real slumping past the psychologically significant mark of R$2.3 to the dollar. So far this year, the Real has fallen 12.4% against the dollar.
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