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Nonetheless, the most likely scenario remains that the Dilma government, reaching new highs in popularity despite a slowing economy, will use its ample political capital to change the savings account rule before the May meeting and so allow for a larger rate cut of 50.
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At the time, Dilma was the Minister of Mines and Energy and her major project on the books was the 11, 200 megawatt Belo Monte dam, slated to be built along the Xingu River in the Amazon state of Para.
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The president, Dilma Rousseff, welcomed the figures, but warned Brazilians not to expect a similar rise in 2011.
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