|Brazil, Country of the Future No More?|
|Qua, 29 de Fevereiro de 2012 00:00|
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Moreover, because investors do not view Brazilian and non-Brazilian assets as perfect substitutes, low domestic savings mean perennially sky-high (nominal and real) domestic interest rates. Brazil is a country where traders get excited whenever the Central Bank’s short-term interest rate drops below 10%.
Copyright: Project Syndicate, 2012.