The recent cuts in Brazilian interest rates succeeded in stimulating 3.4% economic growth in the first quarter of the year, compared with the same period last year, according to Central Bank figures. Increased sales of consumer goods spurred the fastest growth rate in the past three quarters. Growth is likely to continue following the further 50 basis point cut in rates yesterday, Wednesday.
Technorati Tags: Brazil Economy, Brasil Economía, Interest rates, Eduardo Bravo Losada, Accountants, CPAs
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