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Brazil Central Bank on Verge of Turning Point as Inflation Eases

For six years, Brazil’s central bank failed to achieve its mandate of ensuring price stability, damaging its credibility and eroding Brazilians’ purchasing power. Even as the nation’s economy nose-dived into the worst recession on record, policy makers had little choice but to stick with one of the highest interest rates among G-20 nations.

But now, with central-bank inflation projections finally on target, a highly experienced economic team in place and a government committed to fiscal discipline, Brazil is on the verge of monetary easing for the first time since 2012.

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