Conflict Between the Central Bank and Finance Ministry

BRAZIL ECONOMICS - Report 19 Aug 2013 by Marcelo Gazzano, Cristina Pinotti and Affonso Pastore
Last Friday the depreciation of the real accelerated, with the exchange rate approaching R$2.40/US$, which is the quotation attained at the height of the crisis in 2008 (Graph 1). Graph 1 Exchange Rate – daily data Winds from the United States contributed to this movement. The probability has been increasing that the Federal Reserve will start tapering back on its asset-buying in September, which has accentuated the trend for the dollar to appreciate in relation to a large number of other currencies. But neither this movement last Friday nor the tendency for the real to weaken in recent wee...

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.