Low Inflation Leads Brazil to Hold Benchmark Interests at 19.75%

The nine members of the Brazilian Central Bank’s Monetary Policy Committee (Copom) decided unanimously, yesterday, July 20, to maintain the government’s annualized benchmark interest rate at 19.75%.

The so-called Selic rate is used as a benchmark for bank loans, and over half of the Brazilian government’s domestic debt is pegged to the Selic.


“After evaluating the prospects for the trend in inflation, the Copom decided, unanimously, to maintain the annualized Selic rate at 19.75%,” the Committee says in its note.


To calculate the Selic, the Copom takes into account various factors, including the outlook for future inflation (the next 30 days) and momentary upward or downward price tendencies in the economy.


ABr

Tags:

Ads

You May Also Like

Brazil Reports to UN on Its 430,000 Indians

The president of Brazil’s Funai (Fundação Nacional do Àndio – National Indian Foundation), Mércio ...

Brazil’s Coconut Water Coming to a Store Near You

The Brazilian coconut water market is around 600 million liters a year. The development ...

Brazilian Indian Chidren Get Vitamin A in Effort to Reduce Infant Mortality

Brazil’s National Health Foundation (Funasa) will begin giving some 10,000 Indian children in Xavantes ...

Plain João – The Man Who Invented Bossa Nova

He’s been called O Rei da Bossa, O Mito, Il Maestro Supremo, and O ...

Why Is TV Star Being Harassed by US? For Being Brazilian? Black? Or Both?

Lázaro Ramos, Brazilian black actor and Globo TV star came to the US to ...

Greece Is Today What Brazil Used to Be, Says Central Bank Chief

Henrique Meirelles, the president of Brazil’s Central Bank, says the present crisis in Greece ...

Brazil’s Opposition Wants to Oust the House Speaker

The leaders of Brazil’s opposition parties (PSDB, PFL, PV, PDT, and PPS) had a ...

Brazil Confident Its Stem-Cell Treatment Will Save 200,000 Lives in Three Years

In what is described as the world’s biggest experiment in the use of stem-cell ...

Dilma Rousseff, Lula’s Pick for President, Takes 5% Lead in Polls

According to a new poll, Brazil’s incumbent candidate Dilma Rousseff took the lead in ...