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U.S. 1 Trillion Dollar Infrastructure Plan Passed By The Senate / Brazil’s July Inflation Was Higher Than The Inflation Target Set By The Brazilian Central Bank

 

U.S. 1 Trillion Dollar Infrastructure Plan Passed By The Senate

The Biden administration's $1 trillion infrastructure plan was finally successfully passed by a vote in the Senate. In the next step, this plan must be reviewed and approved by the House of Representatives before President Biden can sign it into a bill. Since the House of Representatives is controlled by the Democratic Party, it is expected that there will be a greater chance of passage. In this plan, 110 billion U.S. dollars will be used to build highways, 66 billion U.S. dollars to build railways, 65 billion U.S. dollars to build power grids, 65 billion U.S. dollars to build broadband facilities, and 55 billion U.S. dollars to build water pipelines. Facilities etc. The plan will be implemented in 5 years. In the next step, the Biden administration will launch another "human infrastructure bill" worth 3.5 trillion U.S. dollars.


Brazil’s July Inflation Was Higher Than The Inflation Target Set By The Brazilian Central Bank

Brazil, a major emerging market country, announced last night the inflation figures measured by the consumer price index for July, which rose 0.96% and 8.99% month-on-year and 8.99% year-on-year. Its annual growth rate is much higher than the 3.75% inflation target set by the Brazilian Central Bank. Looking back, its annual growth rate in June was 8.35%. After the announcement of the above figures, the Brazilian Central Bank immediately warned that it would raise the official interest rate by 1% next month to suppress inflation. The Brazilian central bank’s commitment is giving a lot of support to the Brazilian currency, the real.

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