Brazil Central Bank is Cautiously Optimistic

In an announcement on Thursday, Brazil’s Central Bank ( ‘BC’) cautiously welcomed signs that the country’s economy appears to be improving. Alexandre Tombini, the BC President commented that the national GDP increased by 2.3 % during last year, reflecting advances in both the industrial and agricultural sectors since the somewhat disappointing results towards the end of 2012.

The President went on to say that he expected an improvement in exports during 2014. He explained that this is because of recent changes in the exchange rate between the US Dollar and the Brazilian Real make the South American giant’s products much more attractive for international customers

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