The World Bank is forecasting a contraction of 8% this year for Latin America's biggest economy, which would be its worst annual recession on record.
The central bank's governors"need to sit down and think about why the usual monetary policy models aren't working," said Jason Vieira of Infinity Assets. "That political noise is having a very bad influence" on investors, said Mauro Rochlin, an economics professor at the Getulio Vargas Foundation.
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