IMF research analyses Brazil's high interest rates
The IMF has released a new research paper that investigates the 'puzzle' of Brazil's high interest rates.
Author Alex Segura-Ubiergo notes that real interest rates in Brazil have declined substantially over time, but are still well above the average of emerging market inflation-targeting regimes.
The research states that the adoption of an inflation-targeting regime and better economic fundamentals, such as a reduction in inflation volatility and improvements in the fiscal and external positions
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