Brazil Reduces Long Term Interest Rates from 9% to 8.15%

    The President of Brazil Central Bank, Henrique Meirelles, admitted, this Friday, March 31, that real interest rates in Brazil are high, but added that they have consistently been reduced.

    During a presentation in the "Brazil – Growth Platform" seminar, of the Inter-American Development Bank Yearly Meeting, Meirelles reiterated that Brazil has been doing its "homework" to maintain the economic stability, and added that the monetary policy should not be affected by "euphoria and voluntarist measures."

    "Average interest rate from 1997 to 1999 was 21.4%, and this year, it is 10.4%. Standards are still high, but these are market interest rates, and they have been dropping consistently, and not because of voluntarist or artificial factors by government intervention. This demonstrates, again, that we are in a virtuous trajectory of consolidation of growth conditions."

    Meirelles told entrepreneurs that the country is prepared to face international volatility, and that, once again, Brazilian economy is presenting conditions favorable enough to foster an increase of company’s confidence for new investments.

    Interest Reduction

    Brazil’s National Monetary Council (CMN) decided, today, to reduce the long-term interest rate (TJLP) from 9% to 8.15%. The decision was unanimous.

    According to the Director of Norms of the Central Bank, Sérgio Darcy, CMN concluded that both the low inflation, and the external investors’ good evaluation of the country contributed for the reduction of the TJLP.

    Agência Brasil

    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    Your email address will not be published.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

    Lula

    Now It’s Our Turn to Tell the Gringos What to Do, Says Lula on Economic Crisis

    Luiz Inácio Lula da Silva, Brazil’s former president, blasted the US and Europe for ...

    Making It There

    It is believed that for every Brazilian who makes it big in the United ...

    Brazil’s Surplus Down Sharply Due to Declining Trade

    Brazilian market kept retreating this Friday, May 19, amid continued concerns about rising global ...

    Michel Temer

    Brazil: Threats and Altercation Inside Rousseff Administration’s Coalition

    The vice president of Brazil, Michel Temer, admitted publicly “differences” inside the administration of ...

    Brazil's favorite dish: rice, beans, beef, salad

    Rice and Meat Boost May Prices 0.79% in Brazil

    Brazil's consumer prices rose 0.79% in May, the fastest pace in more than three ...

    Marina Silva

    Change of Plans Spared Marina’s Life. She Should Make a Formidable Brazil Presidential Candidate

    Environmental activist and politician Marina Silva could have been on the plane that crashed ...

    Brazil Calls US and Urges Immediate Cease-Fire in the Middle East

    During talks this morning, July 20, with the US Secretary of State, Condoleezza Rice, ...

    xxx

    Cuban Player Defects During Pan-American Games and Disappear in Brazil

    Rafael D'Acosta Capote, 19, a handball player with the Cuban team participating in the ...

    Part of the US site deface by hackers

    Hackers Deface US Embassy Site in Brazil with “Putrid Trash of a Country”

    "Putrid trash of a country" was one of the messages left apparently by hackers ...

    Brazil’s Gol Is 50, 50 Jets Strong That Is

    The Brazilian airline company Gol added the 49th and 50th aircrafts to their fleet, ...