India Unleashed: Brazil

On April 12, 2017, the Brazilian Central Bank cut the SELIC benchmark interest rate by 1% as inflation for the twelve months ended March 2017 slowed to 4.57% from a high of 10.71% for the twelve month period ended January 2016. Although GDP declined by almost 3.5% in 2016 over the prior year, foreign direct investment into Brazil increased by 6 per cent over the same period to 78.9 billion dollars. Anectodal evidence suggests that M&A activity has increased in Brazil as Brazil`s third largest airline Azul successfully sold 645 million dollars of shares in an initial public offering listing its shares on the New York Stock Exchange and the Sao Paulo BM&F Bovespa.

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