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As Expected, Brazil’s Key Interest Rate Drops to Still High 15.75%

Wednesday, April 19, Brazil’s equivalent of the Fed, the Monetary Policy Committee (Comitê de PolÀ­tica Monetária) (Copom), announced another reduction in the country’s key interest rate (known as the Selic).

The annual rate dropped from 16.50% to 15.75%. The decision was unanimous. The further lowering of the Selic was expected by the market.

The next meeting of the Copom will be in 45 days. In a note the Copom said it continues to closely monitor the macroeconomic scene in order to define its monetary strategy.

Central America Trade

In an ongoing effort to expand trade with Central American countries – Panama, Costa Rica, Guatemala, El Salvador and Honduras [Nicaragua] – and identify investment opportunities, Brazil’s Ministry of Development, Industry and Foreign Trade is sending a commercial mission to the region at the end of May.

They will be in Central America from May 28 to June 3. Some 50 business leaders will be part of an official delegation participating in negotiating rounds organized by the Brazilian Export Promotion Agency (Agência de Promoção de Exportações e Investimentos) (Apex-Brasil).

The talks will focus on the following areas: renewable energy sources – ethanol, biodiesel, solar and small hydroelectric power plants – civil construction, transportation, electricity and transmission lines, textiles and clothing, banking services, supermarkets, information technology, franchising and tourism.

ABr

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