Brazil Economy Starts 2024 With Modest Growth as Interest Rates Come Down
- Economic activity rose 0.6% on month in January; est. 0.6%
- Central bank seen cutting rates by half-point this week
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Brazil’s economic activity expanded for the fifth straight month at the start of the year as investors mull how long the central bank will continue with half-point interest rate cuts after Wednesday’s policy meeting.
The central bank’s economic activity index, a proxy for gross domestic product, rose 0.6% in January from the month prior, in line with the median estimate from analysts in a Bloomberg survey. From a year ago, the gauge gained 3.45%, according to data published on Monday.