Tag: Brazil

Supporters of President Luiz Inácio Lula da Silva were celebrating on Monday following Brazil’s shock election result —but investors with exposure to Latin America’s biggest economy will be in a bad mood.

Brazil’s real jumped more than 4% against the US dollar on Monday ‌morning amid a strong showing in early trading, after right-wing Senator Flavio Bolsonaro outperformed private poll predictions and took the lead in Sunday’s presidential election first round.

U.S. President Donald Trump said on Wednesday the U.S. would impose a 50% tariff on all imports from Brazil after a spat this week with his Brazilian counterpart who called him an unwanted “emperor.”

Brazil’s central bank kicked off its rate-cutting cycle more aggressively than expected on Wednesday, reducing its benchmark interest rate by 50 basis points and signaling more of the same in the months ahead due to an improving inflation outlook.