Brazil central bank under pressure to cut rates

Several of Brazil's top government officials have echoed the call of industry bosses for a cut in the central bank's prime interest rate from 26.5 per cent. In what was described as an unusually harsh tone, Jose Alencar, vice-president, said the current level of interest rates was "counter-productive" and only benefited a "speculative" market.

Source: Financial Times

Brazil's central bank has come under unusual pressure from business and some government leaders to cut interest rates in Wednesda

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