Tombini says inability to instil confidence ‘central explanation' for weak recovery
‘Longer period of normalisation of monetary policy' a possibility, he says
Central Bank of Brazil (CBB) governor Alexandre Tombini singled out the inability of central bankers to stoke households and businesses' confidence in economic recovery as the "central explanation" of languid global growth six years on from the financial crisis.
"Increased global liquidity has not been able to translate into significant and permanent change in the confidence of the real sector," Tombini was quoted on the CBB website as saying yesterday.
He said the "animal spirits of
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