THE Brazilian economy continues to defy expectations as it continues to grow as reported by the Central Bank.
According to the Central Bank’s economic activity index, the Brazilian economy’s growth reached 0.56%in April, the most significant monthly growth since December 2013.
The growth has beaten most expectations of analysts’ expectations of 0.2% growth. Meanwhile, Central Bank Chief Roberto Campos Neto believes that market expectations will continue to increase, possibly 2% or higher.
The pessimistic forecast on Brazil’s economy comes as the country is seeing uneven growth as the Central Bank continues to hold the interest rate steady at 13.75% following a tightening cycle lasting over a year.
