Passbook Savings Loom As Obstacle To Brazil Rate Cuts – Wall Street Journal

Passbook Savings Loom As Obstacle To Brazil Rate Cuts
Wall Street Journal
By Tom Murphy SAO PAULO (Dow Jones)–Brazil's drive to lower interest rates may stumble on an unlikely obstacle–old-fashioned passbook savings accounts. “Passbook savings bring a guaranteed return, no administrative fees and no taxes,” said Manuel …
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