UPDATE 2-Brazil tax reform to enter congressional committee by Oct. 8 -lawmaker

(Adds detail throughout) By Marcela Ayres and Gabriel Ponte BRASILIA, Aug 13 (Reuters) – A constitutional amendment to overhaul Brazil’s tax system, potentially comprising proposals from the government and lawmakers, will be put to a special congressional committee by Oct. 8, the bill’s coordinator Aguinaldo Ribeiro said on Tuesday. Ribeiro said he wants to combine elements of the proposals from […]

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UPDATE 1-Brazil's public finances improve in June as spending controls tighten

(Adds detail, comment) By Marcela Ayres and Jamie McGeever BRASILIA, July 26 (Reuters) – The Brazilian government’s fiscal position improved in June, Treasury figures showed on Friday, with a smaller-than-predicted primary budget deficit for the month helping to narrow the shortfall accumulated in the first half of the year. The central government posted a primary deficit before interest payments are […]

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UPDATE 1-Brazil rate cut hopes gather momentum after low inflation print

(Adds details, comment, other banks’ forecasts) By Jamie McGeever BRASILIA, July 23 (Reuters) – Expectations that Brazil’s central bank will embark on an aggressive interest rate-cutting cycle perhaps as early as next week gathered momentum on Tuesday, after a measure of annual inflation fell to its lowest in over a year. Economists at Bank of America Merrill Lynch slashed their […]

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Brazil pension reform helps improve inflation outlook, says central bank chief

BRASILIA (Reuters) – Brazil Central Bank President Roberto Campos Neto on Thursday welcomed the approval by Congress of a landmark overhaul of the country’s pension system, saying the reforms help create a benign outlook for inflation. In an interview with the GloboNews television channel, Campos Neto said Wednesday’s resounding vote by lower house lawmakers represented an important moment for the […]

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UPDATE 1-Brazil's central bank slashes 2019 GDP growth forecast, sees benign inflation

(Adds detail, quotes) By Jamie McGeever BRASILIA, June 27 (Reuters) – Brazil’s central bank on Thursday slashed its 2019 economic growth forecast and, assuming constant exchange rates and interest rates, said inflation is likely to be lower than previously expected across its forecast horizon through 2021. In its Quarterly Inflation report, the central bank blamed spillover effects from the economy’s […]

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Brazil Economy Minister expresses disappointment with pension reform bill changes

RIO DE JANEIRO, June 14 (Reuters) – Brazil’s Economy Minister Paulo Guedes on Friday expressed his disappointment with a congressional committee’s report on pension reform, saying it made more changes to the government’s original proposals than he had expected. Speaking in Rio de Janeiro, Guedes said a bill generating 1 trillion reais ($256 billion) of savings over the next decade […]

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Softbank in talks to invest in Brazilian fintech Nubank -source

SAO PAULO, June 6 (Reuters) – Japan’s Softbank Group Corp is in talks to invest in Brazilian financial technology company Nubank, a source said. “Talks are in initial stage and final values have not yet been determined,” the source said, requesting anonymity to disclose private talks. Financial blog Vox reported on Wednesday that Softbank may invest up to $1 billion […]

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Brazil lower house votes to allow foreign airlines in domestic market

BRASILIA (Reuters) – Brazil’s lower house of Congress voted on Tuesday to allow foreign-controlled airlines to operate domestic flights in Latin America’s largest economy, opening the door to more competition in an increasingly concentrated market. The chamber approved the original text of a decree issued by former President Michel Temer in December that removed the 20% limit on foreign ownership […]

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