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Brazil's strong GDP data doesn't change monetary policy -source
August 30, 2013 / 2:50 PM / 4 years ago

Brazil's strong GDP data doesn't change monetary policy -source

SAO PAULO, Aug 30 (Reuters) - Brazil’s stronger-than-expected economic growth in the second quarter “doesn’t change much” in terms of monetary policy, a senior source on President Dilma Rousseff’s economic team told Reuters on Friday.

Brazil’s central bank began a rate hike cycle in April and is expected to raise its benchmark Selic rate by 0.5 percentage point to 9.50 percent at its next meeting in October.

Brazil’s economy grew at its fastest pace in more than three years in the second quarter, breaking a long streak of weak results for Latin America’s largest economy, but rising interest rates and other problems mean the respite will likely be short-lived.

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