And some of the increased capital outflow was expected, to repay expiring corporate bonds.
Europeans are still rushing to put their money into assets abroad: capital outflow has been one cause of the euro's frailty.
Mr Lopes insists that tight monetary policy will slow the capital outflow, because it is no longer profitable to borrow reais to buy dollar-denominated Brazilian bonds, as it was when bond yields soared last month.
But Mr Lardy argues against ending the capital-outflow scare.
If editors at a Murdoch paper are so antientrepreneur, a lighter capital gains tax alone won't staunch Britain's outflow of risk capital and talent.
If editors at a Murdoch paper are so anti-entrepreneur, a lighter capital gains tax alone won't staunch Britain's outflow of risk capital and talent.
Chinese officials are evidently concerned that the outflow of capital will soon turn into a stampede.
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But dollarization helped cushion the crisis by preventing a crippling outflow of capital.
Nonetheless the banks have to open and the European Central Bank will have to make up for the outflow of capital.
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The second point is true which is to say that America has enjoyed a persistent inflow, not outflow, of capital.
He said the central bank would impose some limited "capital controls" to prevent an outflow of money when banks reopened.
Cyprus became the first eurozone country ever to apply capital controls in an effort to prevent a vast outflow of euros after its banks reopened on Thursday, following a 10-day closure.
If an American recession caused a flight of capital to safety, these countries would see a sharp outflow of money.
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