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1 week ago | 
bloomberg.com | Martha Beck |Andrew Rosati
The Central Bank of Brazil headquarters in Brasilia. (Bloomberg) -- Brazil’s central bank raised its key interest rate by a quarter-point and signaled borrowing costs will likely remain steady for a long period as board members gauge the impact of tight policy on inflation and activity. Central bankers led by Gabriel Galipolo lifted the benchmark Selic to 15% in a unanimous decision on Wednesday, as expected by 12 of 32 economists in a Bloomberg survey.
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1 week ago | 
bloomberg.com | Simone Iglesias |Martha Beck
Luiz Inacio Lula da Silva(Bloomberg) -- President Luiz Inacio Lula da Silva’s efforts to shore up Brazil’s budget are on the brink of another setback after Congress advanced a push to block tax increases on some financial transactions from taking effect. Lower house lawmakers on Monday approved by 346-97 votes an urgency request to overturn a governmental decree raising so-called IOF taxes. The procedural move opens the door to the floor vote on a proposal to cancel the measure.
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3 weeks ago | 
bloomberg.com | Rachel Gamarski |Giovanna Azevedo |Martha Beck
Azul and Gol aircraft at the International Brasilia-Presidente Juscelino Kubitschek International Airport (BSB). (Bloomberg) -- Even as the Brazilian airline Azul SA struggled with exchange rate pressures and the lingering effects of the pandemic, top executives insisted they would do whatever they could to avoid filing for bankruptcy.
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3 weeks ago | 
bloomberglinea.com | Giovanna Azevedo |Martha Beck |Rachel Gamarski |Tuane Fernandes
Bloomberg — Por mucho tiempo el Banco do Brasil SA. ha promocionado su posición dominante en los créditos a la agroindustria del país como una de sus principales fortalezas. El banco representa la mitad de la financiación que fluye hacia el sector, lo que supone una ventaja en esta potencia agroalimentaria. Sin embargo, las altas tasas de interés y los sucesivos reveses en cosechas han dejado a los agricultores en una situación difícil.
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4 weeks ago | 
bloomberg.com | Vinicius Andrade |Vinícius Andrade |Giovanna Azevedo |Martha Beck
Luiz Inacio Lula da Silva(Bloomberg) -- Moody’s Ratings lowered Brazil’s credit outlook to stable from positive, delivering a reproof to President Luiz Inacio Lula da Silva’s government at a time when it is under increasing pressure to shore up the country’s fiscal situation. The ratings firm, which upgraded the country in October, reaffirmed its Ba1 rating, one level below investment grade.
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4 weeks ago | 
news.bloombergtax.com | Daniel Carvalho |Martha Beck
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1 month ago | 
bloomberg.com | Martha Beck |Simone Iglesias
Fernando Haddad(Bloomberg) -- Not long ago, Brazil’s finance chief was a rising star in the government of President Luiz Inacio Lula da Silva. Now, factors beyond Fernando Haddad’s control have put his political ambitions on hold. Haddad appeared well-positioned to take the baton from Lula in next year’s presidential election, after steering Latin America’s largest economy toward better-than-expected growth while simultaneously reining in his boss’s big-spending instincts.
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1 month ago | 
bloomberg.com | Martha Beck |Simone Iglesias |Leda Alvim
A vendor counts real bills at a street market in Rio de Janeiro, Brazil. Photographer: Dado Galdieri/Bloomberg(Bloomberg) -- The prospect of a government funded aid package to help boost the sagging popularity of Brazil President Luiz Inacio Lula da Silva sent the currency reeling on fears any extra spending would widen the country’s fiscal deficit.
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1 month ago | 
bloomberg.com | Giovanna Azevedo |Rachel Gamarski |Martha Beck
An Azul Airlines passenger aircraft prepares to land in in Rio de Janeiro. (Bloomberg) -- Brazilian airline Azul SA has cut deals with lessors, exchanged its debt and raised hundreds of millions in fresh cash in the past year in a bid to turn around its ailing finances. And yet, its efforts have done little to build confidence: Dollar bonds issued just months ago have lost more than a third of their value. The stock has slumped about 89% in the past year.
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1 month ago | 
bloomberg.com | Martha Beck |Andrew Rosati |Giovanna Azevedo
The Central Bank of Brazil headquarters in Brasilia. (Bloomberg) -- Brazil’s real rallied after the central bank kept its options open for another interest rate hike amid above-target inflation and global economic uncertainty. Board members led by Gabriel Galipolo unanimously lifted the Selic to 14.75% late on Wednesday, as expected by nearly all economists surveyed by Bloomberg.
