RIO DE JANEIRO, BRAZIL - Brazilian interest rates reached almost 50 percent when Gustavo Franco was in charge of the Central Bank in late 1998, and the country sought to protect economic stability from the impacts of the Asian and Russian crises. Now, over 20 years later, the economist considers that Brazil may even utilize a negative interest rate strategy to counter the coronavirus pandemic.
"What an extraordinary thing, the country that was once the world champion of interest rates is now able to have very low interest rates," says the ex-president of the Central Bank and founding partner of . . .
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