For the second consecutive time, the Brazilian Central Bank did not change the economy’s benchmark interest rate. The Monetary Policy Committee unanimously decided to hold the Selic rate at 6.5% a year Wednesday (Jun. 20). The decision had been expected by analysts.
The ten days of the strike staged by truck drivers have been estimated to cost some $ billion to the economy—0.2% of Brazil’s gross domestic product (GDP), the Finance Ministry reported Tuesday (12).
Brazil’s head for the president’s institutional security, Minister Sergio Etchegoyen, said today (Jun 4) that issues linked to security, defense, and supplies stemming from the recent truckers’ strike have been overcome.
The chief executive of Brazil´s state-controlled oil giant Petrobras decided to step down from his post Friday (June 1). The decision was made public in an urgent announcement to the market. Parente met with President Michel Temer at the Planalto presidential palace.
As truck drivers enter their ninth day of work stoppages across Brazil, President Michel Temer stressed the importance of dialogue in democracy and said that when “some” are not willing to negotiate and threaten to bring the country to a halt, “authority must be exercised” in
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