Agencia Brasil
12 Dec 2019, 20:23 GMT+10
For the fourth consecutive time, the Brazilian Central Bank lowered the economy's benchmark interest rate. Its committee unanimously decided to reduce the Selic rate to 4.5 percent a year, a 0.5 percentage point cut. The move had been expected by analysts.
The decision, made Wednesday (Dec. 11), brings Selic to its lowest level since this time series was initiated by the Central Bank, in 1986.
In a statement, the bank's Monetary Policy Committee, or Copom, said it will act cautiously and keep the rate at 4.5 percent a year for a long period, never failing to assess the economy's conditions. The financial institution stressed the need to continue the structural reforms in the Brazilian economy so the rate may stay low for long.
Inflation
The benchmark interest rate is used in the negotiation of bonds in the country's Special Clearance and Escrow (selic) system, and provides a gauge for other interest rates in the economy. It is also the Central Bank's main tool to curb the official inflation (IPCA).
In November, inflation stood at 0.51 percent, the highest figure for the month since 2015, driven by the hike in the dollar and in meat prices. In 12-month period, the IPCA accumulated 3.27 percent, but is still below the 4.25 percent target set for 2019. The 2020 target was set at four percent.
Compartilhar:
Dê sua opiniao sobre a qualidade do conteúdo que você acessou.
Para registrar sua opiniao, copie o link ou o titulo do conteúdo e clique na barra de manifestacao.
Você sera direcionado para o "Fale com a Ouvidoria" da EBC e podera nos ajudar a melhorar nossos servicos, sugerindo, denunciando, reclamando, solicitando e, tambem, elogiando.
Get a daily dose of Africa Leader news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Africa Leader.
More InformationMADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...
NEW YORK CITY, New York: Paramount has agreed to pay US$16 million to settle a lawsuit brought by U.S. President Donald Trump over...
LONDON, U.K.: British Prime Minister Keir Starmer won a vote in Parliament this week to move ahead with changes to the country's welfare...
WASHINGTON, D.C.: President Donald Trump will meet Israeli Prime Minister Benjamin Netanyahu at the White House on Monday. President...
FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...
SANTA CLARA, California: Nvidia came within a whisker of making financial history on July 3, briefly surpassing Apple's all-time market...
SACRAMENTO, California: California's multibillion-dollar farms are facing a growing crisis—not from drought or pests, but from a sudden...
WASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...