Brazil's upswing due to rate policy says Meirelles

Brazil's central bank President Henrique Meirelles told a press conference in New York that the recovery from last year's recession is a result of budget and interest rate policies rather than the increase in exports.

``The main reasons are the budget balance, the primary surplus, which is an important anchor, the improvement of all ratios, the responsible monetary policy and a whole sequence of measures that has generated positive results in growth in domestic demand, besides export growth,''

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