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Brazil’s central bank has slashed rates as inflation subsides. The boost to consumers and corporate borrowers should juice earnings of listed companies.
By Craig Mellow Order Reprints Print Article
People at a market under a Brazilian flag in Rio de Janeiro, Brazil, on Dec. 08, 2020 amid the coronavirus pandemic. MAURO PIMENTEL/AFP/Getty Images
Brazil is a hard place to be optimistic about. Liberal spending to offset rampaging Covid-19 led to a gaping budget deficit last year, and national debt nudging 100% of GDP.
The economy contracted more than 4% despite this stimulus. Politicians are taking their time about righting the ship for 2021. Congress, home to some 30 competing parties, is set to wrangle over new leadership for the rest of January, then take much of February off for Carnival. A second pandemic wave gathers force in the meantime, with case counts.