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Bank raises interest rates

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    Bank raises interest rates

    BBC News - Brazil raises interest rates to 11.75%

    Brazil's central bank has raised its key interest rate to 11.75% in a bid to hold down inflation in one of the world's fastest-growing economies.

    The rise, from 11.25%, is the second half-point increase since the start of the year.

    It is also the second under President Dilma Rousseff and central bank head Alexandre Tombini, both of whom took office in January.

    Inflation was 5.91% last year and is forecast to remain above 5% in 2011.



    Mervyn, how's your pension pot? Still blaming the bankers mate?

    #2
    Sounds about right - inflation is 5-6%, and rates are 5-6% higher than inflation, that's proper monetary policy. Also GDP of Brazil is not made of hor air with bulltulip, they sell proper stuff and have their own proper space program.

    What else to add? Well, maybe that SKA will be well represented there in an upcoming conference

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