Interest rates raised in effort to curb inflation
Brazil's central bank raised interest rates for the second time in a month to curb what new President Luiz Inбcio Lula da Silva described this week as the "virus of inflation".
Brazil's central bank raised interest rates for the second time in a month to curb what new President Luiz Inбcio Lula da Silva described this week as the "virus of inflation".
Coface, the French credit insurance specialist, has reduced its exposure to Brazil by 15% to US$1.08bn, daily Valor Economico reported.
Brazil's central bank on Wednesday increased its key interest rate by 3 percentage points to 25 per cent in an effort to crush growing inflation as the government-elect pledged to press ahead with central bank reforms and austerity measures.
Brazil's credit reporting network RNPN ( http://www.rnpn.com.br.) expects 25,000 member companies will use its B2B services by the end of next year, says Mario Firminio, technology director at RNPN parent comp
Brazil’s federally owned Banco do Brasil (BB) was very much in the news as it boosted its Proex export financing by 55.6% in October to US$54.4m, compared to the same month last year.
For the second time in two months, Brazil's central bank increased its prime lending rate, this time by a percentage point to 22 per cent yesterday in a move aimed at quelling inflationary pressures but that may put a further brake on the economy.
Exicon, the leading factor in the Brazilian market, has today announced the commencement of the operation of an import factoring service to factoring companies worldwide.
Brazilian banks are reducing the offer of credit to small and medium sized companies due to the growth of default level.