Low Interest Rates, Higher Dollar Exchange Rate in Brazil Expected for Future Years
RIO DE JANEIRO, BRAZIL – The Minister of Economy, Paulo Guedes, once again said that the country will continue to have a devalued Real and low interest rates for “many years” to come.
In an interview with “O Antagonista”, Guedes said that he sees a “sustainable situation” for a depreciated exchange rate and with fewer fluctuations.
“I’m not saying that it is at R$4.50 or above, but the normal thing now is for this to remain higher,” the minister said.
According to Guedes, the trend is for the Real to settle into a higher level of devaluation and not only to fluctuate “because of political speculation,” as has been seen in the past.
The minister stressed that the country is “changing its macroeconomic mix” and said that, before, Brazil had “extremely high-interest rates and an overvalued exchange rate, bringing down exports,” but that now the country is “correcting a perverse policy”.
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