Brazil Balks Last Minute at Raising Rates and Angers CriticsMario Sergio Lima, Arnaldo Galvao and Randall Woods
The real and swap rates fell on Thursday after surprise hold
Decision is `blow' to bank's credibility -- Neil Shearing
Almost from the moment he took over Brazil’s central bank five years ago, Alexandre Tombini has heard the cries of critics who swear he’s in cahoots with politicians hell-bent on growth at all costs. His decision Wednesday night to unexpectedly refrain from raising interest rates will do little to quiet that talk.
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