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Santander sees Brazil’s economy performing “better than expected”

Santander's Brazilian subsidiary notes that Brazil's economy is performing "better than expected" this year, even though it believes it is likely to contract in the short term in the face of rapidly rising official interest rates.

"This year's growth will be better than we all imagined at the beginning, but it is difficult to believe that, with rates going to a high 13% or low . . .

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