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Brazil's Unions and Industry Oppose Higher Interests
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Brazil's Vice-President: Interests Are Halting Country
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Brazil Industry Criticizes Higher Interests
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Lula Defends Brazil's Central Bank Interest Rates Policy
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Brazil's Central Bank Chief Promises Lower Interests
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Only Lower Brazil Risk Will Bring Interests Down
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Brazil's Central Bank Expected to Raise Interests
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Market Analysts Keep Saying Brazil's GDP Won't Grow Over 3.5%
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Average Interest Rate in Brazil: 29% a Year. In the World: 4%
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It's Been Ten Years Since Banks Had So Much Profit in Brazil
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Interest Rates Still Too High, Brazil Admits
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Rewrite Your Books. Brazil Grew in 2003.
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US Analyst Forecasts Doom for Brazil's Economy
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Brazil's Industries Federation Insists: Interests Must Go Down.
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Fearing Inflation, Brazil Raises Interest Rates to 17.75%
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Brazil's Central Bank to Keep Interest Rates High
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Interest Rate Fears Bring Brazil Market Down
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Lower Interest Rates Won’t Be Enough for Brazil. But It’s a Start.
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US Rate Hike Might Inspire Brazil
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Brazil's Interest Rate Hike Pleases No One
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Brazilians Pay World's Highest Interest Rates
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Don't Expect Lighter Taxes Soon, Says Brazil
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Brazil's Benchmark Interest Rate Raised to 19.5%
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Interest Rates Are Hurting Brazil, Says Industries Federation
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A Map to Lower Brazil's Interest Rates from 19.5% to 4%
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Lula Blames Inflation on Brazil's High Interest Rates
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Brazil Fears High Interest Rates Only Won't Halt Inflation
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Brazilians Hopeful Interest Rates Will Be Put on Hold
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Brazil Boosts Interest Rates for 9th Time in a Row
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Interest Rate Hikes Not Reining In Brazil's Inflation
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Raising Interest Rates Is Not Working in Brazil
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Interest Rates Are Choking Brazil
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A First in 10 Months: Brazil Leaves Interest Rates Alone
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Brazilian Top Unions Blast Copom for Not Cutting Interest Rates
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Brazilian Industry Wants Urgent Reduction of Interest Rates
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It's Time Brazil Adopts a More Flexible Monetary Policy, says BNDES Chief
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Lula Talks About Cuts in Interest and Market Soars in Brazil
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Lula and Minister Bet Interest Rates in Brazil Will Fall Soon
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Low Inflation Leads Brazil to Hold Benchmark Interests at 19.75%
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Brazil's Industry Leader Calls Interest Rates 'Absurd'
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Brazilian Industry Blames High Interests for Slow Growth
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Good Political and Economic News in Brazil Helps Drag Market Up
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Raising Interest Rates Is Not A Whim, Says Brazil's Finance Minister
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Only Pact with Devil Explains Brazilian Progress, Says Brazil's Vice-President
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Industry Output Drop in Brazil Fuels Hopes Interests Will Fall
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In Brazil, High Interests Are a Rich's Best Friend
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News of Lula's Waning Popularity Depresses Brazil Stocks
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Brazil Lowers Interests to 19.50%. Right Drug, Wrong Dosage, Say Critics
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Brazil's Interest Rates Are Still 6 Times Higher Than the US's
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Brazil Follows U.S. and Gets Back to Black
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Brazil Cuts Interest Rates by 0.5%. Largest Reduction in 2 Years.
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Brazil Reduces Benchmark Interest Rate Again. Still 18.5%.
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Hopes of Lower Interest Help Brazilian Stocks
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For Minister, High Interests and Low Dollar Are Hurting Brazil
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Brazil's Vice Praises IMF Payoff and Blasts High Interests
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Brazil to Lower Its Long-Term Interest Rates to 9%
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Brazil Expecting Half-Percentage Cut in Key Interest Rate
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Taxes and High Interests Are the Main Bad Guys in Brazilian Economy
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Brazil's New Key Interest Rate Shows Central Bank's Arrogance, Says Industry Federation
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Key Interest Rate in Brazil Falls 2.5%, But Bank Loan Interests Drop Mere 0.19%
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Brazilian Central Bank's Survey Offers Hint of Falling Interest Rates
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Experts Expecting Lower Interest Rates in Brazil
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Belt-Tightening Won't Be Loosened, Says Brazil's New Finance Minister
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Brazilians Confident Interest Rates Will Keep Falling Fast
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Brazil Fears no US Interest Rate Hike, Says New Finance Minister
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Brazil Experts Betting Key Interest Rate Will Fall 0.75% to 15.75%
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As Expected, Brazil's Key Interest Rate Drops to Still High 15.75%
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Personal Loans at 59% Interest Rate: The Lowest Brazil Has Seen in 12 Years
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Brazil's Key Interest Rate Drops 0.50%. Still High at 15.75%.
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Brazil's Benchmark Interest Rate the Lowest in 5 Years
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After Another Cut Brazil Still Has Interests 3% Higher than Any Country
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Brazil Ready to Let Dollar Climb and Interests Fall
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Brazil's Record Low Key Interest Rates Are Still the Planet's Highest
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Key Interest Rate Cut in Brazil Leads to Higher GDP Forecast
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São Paulo Governor Pans Brazil's Key Interest Rate Hike
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Fearing Inflation Brazil Gets Ready to Hike Interest Rates
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Brazil Raises Key Rate by 0.5% to 12.25% to Curb Inflation
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Brazil's Lula Summons His Cabinet for Summit on Inflation Blues
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Inflation Fear Leads Brazil Central Bank to Raise Interest Rates by Steep 0.75%
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Don't Expect Lower Interest Rates, Warns Brazil's Finance Minister
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It's 13.75%: For Fourth Time in a Row Brazil Raises Key Interest Rate
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Brazil's Assurance: We're Not Bankrupt, We're Part of Solution
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Deteriorating Economy Leads Brazil to Cut Interest Rates by 1%
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Brazil Cuts Key Interest Rate by 1%. Workers Wanted 2 %
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Brazil Slashes Interests by 1.5% Fearing GDP Will Contract
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Brazil Has Never Seen Its Key Interest Rate So Low: 10.25%
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Brazil Is Not Afraid of Inflation and Plans to Further Cut Interest Rates
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Stocks Up: In One Day Brazil Wipes Out All July Losses
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Brazil Cuts Interest Rates to Record Low 8.75%
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Finance Minister Foresees 4% Growth for Brazil in Coming 12 Months
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Finance War: Brazil Wants Banks to Lend More and Charge Less
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High Interest Rates Not Hurting Brazil, Says Lula |
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Written by Carolina Pimentel
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Tuesday, 26 April 2005 |
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Brazilian President Luiz Inácio Lula da Silva affirmed today that the hike in the annualized benchmark interest rate (Selic) is not hurting the country's economic growth.
According to the President, one of the reasons for this growth is the creation of new lines of credit for the population.
"That is why supermarket sales are high, because people have access to money they didn't have before," Lula pointed out at the launching, in Brasília, of the special edition of the Best Coffees of Brazil.
Last week the Monetary Policy Committee raised the Selic to 19.5%, the eight consecutive hike of the benchmark interest rate.
Lula recalled that consigned credit alone has injected US$ 5.3 billion (13.5 billion reais) into the economy. This represents 40% of domestic consumption.
He also remarked that, while the previous administration made US$ 13 million (33 million reais) available annually through lines of microcredit, the present Administration is providing US$ 236.5 million (R$ 600 million).
"The pure, stark truth is that the amount of money that is being injected into the market was not anticipated in the handbooks of economics," he said.
ABr
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