Brazil once again cut the country's interest rates, staying at 3% per year. This means that the government is trying anyway to inject liquidity into the market, along with the news that the Brazilian central bank has reported that it will start buying government bonds from companies in the secondary market.
In general, this means that a bank will buy government bonds and the Brazilian central bank will buy these bonds from banks if they are unable to sell to another institution. Obviously, this will make banks buy the bonds and sell them to the central bank without analyzing whether this is really a good option or not, after all, the bank is sure that the financial institution will buy the asset, be it a bad business or not.
Many companies are failing and the number of unemployed is only increasing. The national market is vanishing and investors are leaving Brazil, of course, since with these rates, it is not attractive for you to invest in a country that may not be able to pay you. Brazilians will pay a very bitter price for this QE that the government is making, which is why, more and more, Bitcoin remains a way to escape the bitterness of this medicine that is to come.