Brazil's consumer confidence rises in JanuaryStaff Writer | January 26, 2017
Consumer confidence in Brazil rose in January as a surprise inflation drop allowed the central bank to cut interest rates more aggressively, easing the burden on debt-laden families.
Economy in Brazil The Getulio Vargas Foundation:
After inflation fell sharply, the central bank began easing monetary policy more rapidly in January and signaled interest rates could be reduced from 13 percent to single digits in coming months.
"Although uncertainty remains high and prospects for the labor market continue to look bad, the good news that came with the new year raised the likelihood of a confidence rebound," FGV economist Viviane Bittencourt said in a statement.
Economists expect the Brazilian economy to start a slow recovery in 2017 from its two-year recession, the worst in the country's history. ■