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Brazilian currency touches four-year low, prompting intervention

Posted on 19 June 2013

Brazil’s real touched a four-year low, prompting the central bank to intervene for a second straight day as a report showed higher-than-forecast inflation.
Central bank President Alexandre Tombini said policy makers are working to reduce the inflationary pressure that may stem from the currency’s decline. Wholesale, construction and consumer prices rose 0.74 percent in the 20 days starting May 21, the Getulio Vargas Foundation reported. The median forecast of 13 analysts surveyed by Bloomberg was for a 0.65 percent increase in the IGP-M index………………………………………..Full Article: Source


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