Brazil Balks Last Minute at Raising Rates and Angers Critics

Updated on
  • 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.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.