“I am convinced that we will lower inflation before advanced nations,” says Brazilian Economy Minister
RIO DE JANEIRO, BRAZIL – Economy Minister Paulo Guedes said Monday (11) he is “confident” that Brazil will succeed in controlling inflation ahead of developed countries.
Speaking to businessmen at the Trade and Economic Association (Acim) of Maringá, the minister said that real interest rates in Brazil are relatively high, but that inflation has been at an all-time high worldwide in recent years.
“Central banks around the world have been asleep at the wheel, even if our central bank has done its part. They (the central bank) were the first to move and set interest rates. Interest rates are relatively high in real terms, but I am convinced that in Brazil we will lower inflation before advanced countries,” he said.
The minister also said he believed Brazil would fight inflation “most effectively and quickly.”
He also promised that the country will grow faster than market forecasts. “We will surprise again.”
More: Brazil news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief