High interest rates in the US hurt Brazil, says Citi executive

Leonardo Porto says that the interest rate hike affects emerging countries by favoring capital outflows and increasing the dollar price.

RIO DE JANEIRO, BRAZIL - The expectation that the Fed - Federal Reserve System, the central bank of the United States - will raise the North American interest rate again in a meeting scheduled for this Tuesday (May 3) and Wednesday (May 4) caused the stock market to fall and the dollar to rise again last week.

The chief economist of Citi Brazil, Leonardo Porto, said in an interview to Estadão published . . .

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