brazil

Brazil Greenlights to Join OPEC Ahead of Climate Summit

4 days ago

Brazil has taken a significant step on the international stage by receiving approval to join the Organization of the Petroleum Exporting Countries (OPEC). This important decision comes just months before the country hosts the annual UN climate summit, making the situation even more symbolic. Burdened with complex climate debates, Brazil is now in a more prominent position regarding global energy issues.

Brazil's Central Bank Raises Interest Rate to 10.75% Amid Hot Economic Growth

5 months ago

On September 18, 2024, Brazil took a significant step in its monetary policy by raising the interest rate to 10.75%. The country's central bank made this decision in response to signs of strong economic growth, which they believe could lead to inflation. The rate was increased by 0.25% and is now at its highest level since 2016. This rise is mainly attributed to the need to control rising prices and ensure the stability of the financial system.

Brazil Prepares Interest Rate Hike, Diverging from Federal Reserve

5 months ago

In recent days, the Brazilian central bank announced plans to raise interest rates in order to combat inflationary pressures and support the country’s economic growth. This decision comes amid a developing divergence in monetary policy between Brazil and the United States, where the Federal Reserve may continue to keep rates steady or even lower them.

Brazilian Reforestation Fund Launches with Backing from Alternative Investment Firms

5 months ago

Recently, an innovative investment company announced the launch of a new fund aimed at reforestation efforts in Brazil. This initiative is part of a broader commitment to sustainable development and combating climate change. The fund aims to attract foreign investments to support projects focused on restoring tropical forests, which are key to preserving biodiversity and reducing carbon emissions.

Brazil Braces for Hawkish Central Bank Chief Just as Fed Readies Rate Cuts

5 months ago

Brazil is currently awaiting the appointment of a new Central Bank head who is expected to adopt a more hawkish monetary policy. Rafael Huan is set to conclude his term and hand the reins to a candidate appointed three times by President Luiz Inácio Lula da Silva. The impending changes come as the U.S. Federal Reserve prepares to lower interest rates, creating a tense and uncertain atmosphere in Brazil's financial markets.

Brazil: Analysts Raise 2025 Key Rate Forecast Amid Expected Monetary Tightening

5 months ago

Analysts in Brazil have adjusted their forecasts for the key interest rate in 2025, increasing expectations of its level against the backdrop of anticipated monetary policy tightening. According to a Bloomberg report, the baseline rate could rise to 9% by the end of 2025, which is higher than previous estimates.

Brazil Slams EU Deforestation Law for Lacking Understanding

5 months ago

Brazilian authorities have expressed strong disagreement with the recently passed European Union law concerning deforestation and sustainable management of natural resources. Brazil's Minister of Environment, Marcos Pereira, stated that the law is essentially a trade barrier that fails to take into account the realities faced by resource-rich countries. According to him, such measures undermine the economies of developing nations and exacerbate existing environmental protection issues.

Flutter Entertainment to Acquire Stake in Brazil's NSX Group for $350 Million

5 months ago

Flutter Entertainment, a leading online gambling company, announced its plans to acquire a stake in the Brazilian firm NSX Group for $350 million. This deal aims to support Flutter's growth in the Latin American market, which has shown significant dynamism and potential for new product development year after year. The acquisition will allow Flutter to strengthen its position in Brazil, which has become attractive for international investors due to recent changes in gambling legislation.

Brazil Raises GDP and Inflation Forecasts Ahead of Rate Decision

5 months ago

The Brazilian authorities have successfully upgraded their forecasts for gross domestic product (GDP) growth and inflation, coinciding with the anticipation of an important interest rate decision from the country's Central Bank. According to the latest report, GDP growth is expected to reach 2% in 2024, exceeding previous estimates, along with a small uptick in inflation levels.

Brazil's Economic Activity Sees First Monthly Decline Since March

5 months ago

Brazil has recorded its first monthly decline in economic activity since March 2024, marking an important signal of potential slowing growth in the largest economy in Latin America. Data released by the IBGE statistical agency showed that economic activity in the country fell by 0.3% in August compared to the previous month. This drop came amid expectations that Brazil would continue to recover its economy after a wave of recession.