30 Dec 2013
Brazilian real shows little reaction after Rousseff's televised address
FXstreet.com (London) - The Brazilian real has shown little reaction so far following Brazilian President Dilma Rousseff’s televised address yesterday evening which focussed on talking up the country’s economy.
Rousseff’s end-of-year speech skirted around the public demonstrations that dogged the government in the summer, and instead took and extremely optimistic stance on the country’s economy. Rousseff claimed that her government had been strongly criticised over its handling of the economy because of her government is the victim of "psychological warfare" by the business community. Despite this, Rousseff conceded that she had been forced to "retouch" and "correct" the economy.
Addressing her detractors, Rousseff said that: "If we dive into pessimism and stay trapped in petty disputes, we will have a smaller country."
In reference to the county’s price rises, Rousseff stated that: “The government is alert and steadfast in its commitment to fight inflation and maintain the balance of public accounts.”
Brazilian inflation once again ran above the Banco Central do Brasil’s 4.5 percent inflation target, with November CPI printing at 5.77 percent.
BRL/USD is currently trading at USD0.4283, up 0.23 percent on the day on thin trading.
Rousseff’s end-of-year speech skirted around the public demonstrations that dogged the government in the summer, and instead took and extremely optimistic stance on the country’s economy. Rousseff claimed that her government had been strongly criticised over its handling of the economy because of her government is the victim of "psychological warfare" by the business community. Despite this, Rousseff conceded that she had been forced to "retouch" and "correct" the economy.
Addressing her detractors, Rousseff said that: "If we dive into pessimism and stay trapped in petty disputes, we will have a smaller country."
In reference to the county’s price rises, Rousseff stated that: “The government is alert and steadfast in its commitment to fight inflation and maintain the balance of public accounts.”
Brazilian inflation once again ran above the Banco Central do Brasil’s 4.5 percent inflation target, with November CPI printing at 5.77 percent.
BRL/USD is currently trading at USD0.4283, up 0.23 percent on the day on thin trading.