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Currency depreciation in Latin America: Taper jam

Posted on 14 January 2014

Brazil’s number-crunchers delivered an unpleasant surprise on January 10th, when they revealed that the year-end inflation rate came in at 5.91%. That was higher than market expectations, and higher than Dilma Rousseff, her eyes fixed on a presidential election in October, would have wanted, too.
Asked what lay behind the rises, Alexandre Tombini, the central-bank president, pointed, among other things, to the real’s depreciation as a cause of stubbornly high inflation………………………………………..Full Article: Source


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