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Brazil Credit Growth Slowing to Sustainable Pace, Pereira Says

Brazil’s credit growth is slowing to a sustainable pace, said Luiz Pereira, the central bank’s director of international affairs.

Advanced economies will probably grow at a slow pace over the next years because of over-indebtedness, Pereira said at an event in Brasilia, according to a transcript of his comments published on the central bank’s website.

The central bank will remain vigilant against the effects of the global crisis and will take measures to shore up the Brazilian financial system where necessary, Pereira added.

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