December 1, 2006
Brazil's continued reductions in its interest rates seem to be having the d
Brazil's continued reductions in its interest rates seem to be having the desired effect, according to figures released Thursday by the national institute of statistics (IGBE) which showed third-quarter economic growth had picked up, rising 3.2% year on year. This compares with second-quarter, year-on-year growth of only 1.2%. The economy expanded 2.3% for the 12 months through September, while cumulative growth was 2.2%.