Multi-Billion Dollar Brazil Business Subsidies Face the Chop (2).

Brazil's central bank chief is facing the tough reality that weaning the country's largest businesses off of multi-billion dollar subsidies is easier said than done. The TLP, as the new rate is called, aims to end the days when BNDES's subsidized lending flooded the market with cheap money, undercutting the effectiveness of monetary policy and often requiring additional benchmark rate hikes to soak up liquidity. [Extracted from the article]