Brazilian currency must adapt to 'new reality', says deputy governor
The Central Bank of Brazil (BCB) is ready to step into currency markets if and when it perceives the real is moving out of step with the majority of the world's currencies - but must adjust to a "new normality" vis-à-vis the US dollar as and when the Fed begins to exit the current period of extraordinary monetary easing.
Speaking at a press conference in London today, Aldo Mendes, BCB deputy governor for monetary policy, said the Fed is sending an "ambiguous message" regarding the end of
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