President of Central Bank in Brazil is optimistic about future
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President of Central Bank in Brazil is optimistic about future

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January 4, 2012, 10:54 pm
Economy
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Tombini says inflation reduction is a process and the process is underway
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Kelly Oliveira Reporter Agência Brasil


Brasília – Speaking to the Economic Affairs Commission in the Senate yesterday, the president of the Central Bank, Alexandre Tombini, declared that the Brazilian economy will improve next year. The optimistic message from Tombini was that inflation would be less and growth more.


According to Tombini, inflation reduction is a process and the process is underway. He cited lower interest rates (reduction of the Selic – “taxa básica de juros,” which rose 1.75 percentage points between the beginning of the year and August. And then, beginning in August, was reduced twice, each time by 0.5 percentage points).


Tombini also cited restrictions on credit (“medidas macroprudenciais”) that the government implanted while keeping a focus on reducing risks to the financial system.


According to Tombini, the strong fiscal situation in Brazil has made it possible for the country to confront a difficult economic situation abroad. He said the country had a liquidity cushion in dollars and in its own currency giving Brazil capability to withstand the international crisis.


Allen Bennett – translator/editor The News in English

Kelly Oliveira Reporter Agência Brasil


Brasília – Speaking to the Economic Affairs Commission in the Senate yesterday, the president of the Central Bank, Alexandre Tombini, declared that the Brazilian economy will improve next year. The optimistic message from Tombini was that inflation would be less and growth more.


According to Tombini, inflation reduction is a process and the process is underway. He cited lower interest rates (reduction of the Selic – “taxa básica de juros,” which rose 1.75 percentage points between the beginning of the year and August. And then, beginning in August, was reduced twice, each time by 0.5 percentage points).


Tombini also cited restrictions on credit (“medidas macroprudenciais”) that the government implanted while keeping a focus on reducing risks to the financial system.


According to Tombini, the strong fiscal situation in Brazil has made it possible for the country to confront a difficult economic situation abroad. He said the country had a liquidity cushion in dollars and in its own currency giving Brazil capability to withstand the international crisis.


Allen Bennett – translator/editor The News in English




Source: http://agenciabrasil.ebc.com.br/new-in-english/2011-12-21/news-english-%E2%80%93-president-central-bank-optimistic-about-future

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