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Your email address will not be published.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

Brazil in Cancún and the Free Trade Farce

The creation of the G21 group led by Brazil in Cancún was intended to ...

Not Promise But Guarantee from Lula: All Will Be Better in Brazil, in 2006

Brazilian President Luiz Inácio Lula da Silva "ensured" Monday that the Brazilian economy will ...

The African Diaspora Gathers in Salvador, Bahia, Brazil

From today, July 12, to Saturday, July 15, the city of Salvador, in the ...

Brazil’s Emissary of Samba

Samba brings instantaneous images of Rio’s world-famous Carnaval, of fabulously decorated floats, enormous drum ...

Bribery Charges Hit Brazil’s Finance Minister and Markets

Latin American markets were mixed to lower on the day, as Brazil posted another ...

Freedom of Expression Under Duress in Brazil, Says London Human Rights Group

The executive director of London-based human rights organization Article 19 and the coordinator of ...

80,000 Homes Not Built in Brazil Due to Red Tape

With its biggest budget in 15 years, Brazil’s Housing secretariat at the Ministry of ...

For Brazilian Government Lula’s Improving Ratings Are Result of Better Life

Brazil’s Minister of Institutional Relations, Jaques Wagner, said, Tuesday, February 14, that positive results ...

AIDS drug Kaletra from Abbott

In Showdown with Brazil Over AIDS Drug Patent, Abbott Blinks First

On June 24, Brazil issued an ultimatum to the Illinois-based pharmaceutical corporation Abbott Laboratories ...

Brazilian Companies Learn to Make Money Selling Carbon Credits Overseas

It was just three years ago that Brazilian businessman Juarez Cotrim, from Brazil's southeastern ...