27 janeiro 2012

Brazil's economy has one foot on the brake and one on the accelerator

The foot on the brake is interest rates as the central bank ramped them up to try to keep inflation under control.
The accelerator is, of course, fiscal spending.

Now Brazil is in the strange position of having record low unemployment – 4.7 per cent in December compared with 5.2 per cent in November, even as its economy crawled along at near zero rates of growth in the third and fourth quarters.

Source: beyondbrics on.ft.com/xnnVRy

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