Brazil Boosts Interest Rates for 9th Time in a Row

    The Monetary Policy Committee (Copom) of the Brazilian Central Bank (BC) decided yesterday to raise the annualized benchmark interest rate (Selic) from 19.50% to 19.75% per year.

    The increase, decided unanimously, continues the upward trend that has been occurring monthly since September 2004.


    The Selic is a benchmark for all the interest rates charged by the country’s financial institutions. It corresponds to the interest rate the government agrees to pay when it borrows money on the internal market.


    In calculating the Selic, the Copom takes into account various factors, including the prospects for future inflation (in the next 30 days) and momentary upward or downward price movements in the economy (past inflation).


    ABr

    Tags:

    • Show Comments (0)

    Your email address will not be published. Required fields are marked *

    comment *

    • name *

    • email *

    • website *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Ads

    You May Also Like

    Brazilian court

    The Seemingly Futile Battle of Brazil Against Impunity

    For the Brazilian people justice is generally slow or lacking. Throughout the years there ...

    Illiteracy Falls in Brazil, But It’s Still the Lot of 10.5%

    Despite the progress that has occurred in education in recent years, illiteracy persisted among ...

    Brazil Varig's new visual identity

    Brazil Varig Airline’s Logo Turns Orange, Its New Owner’s Colors

    Brazil's once flagship airline has very little of its past glory left. Now, it ...

    The inside of an Embraer 170 built in Brazil

    Brazil Sells Jet to Lybia. It Might Be First of a Fleet

    The Embraer 170 jet airplane purchased by Libyan oil company Syrte Oil should arrive ...

    Arcelor Mittal in Brazil

    Mining Investments in Brazil to Reach US$ 47 Billion By 2013

    The mining industry in Brazil should receive US$ 47 billion in investment in the ...

    Brazil Taught Me That’s OK to Be Jealous, to Touch and to Kiss

    It was a bunch of teenage Brazilian girls who drew my attention to the ...

    Future is promising

    An expert businessman undertakes an overall assessment of Brazil, its people, its economy. There ...

    Brazilian child gets food

    Brazil and Arabs Join Same Team to Fight Hunger and Poverty

    Ministries of Social Development in Arab and South American countries are going to create ...

    Stroessner Buried in Brazil Under Paraguay’s Flag

    The body of Paraguay’s longtime former dictator was laid to rest in Brazil, Thursday, ...