At its 11 July meeting, the Central Bank's Monetary Policy Committee (COPOM, Comite de Politica Monetaria) decided to reduce the benchmark SELIC interest rate by 50 basis points to 8.00% in a unanimous vote, in a decision expected by the market. The move followed a similar rate cut in May and represented the eighth consecutive meeting in which policymakers opted to cut interest rates. According to a short communique released after the meeting, policymakers stated that the external environment remains largely disinflationary and that inflation risks are subdued, thus supporting COPOM's decision.
Brazil Monetary Policy
Central Bank cuts SELIC rate by a further 50 basis points
July 11, 2012
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Brazil Monetary Policy Chart
Note: SELIC target rate (Taxa SELIC meta) in %.
Source: Central Bank of Brazil (Banco Central do Brasil).
Brazil Economic News
October 19, 2016
At its 19 October meeting, the Central Bank’s Monetary Policy Committee (COPOM, Comite de Politica Monetaria) decided to cut the benchmark SELIC interest rate for the first time in four years, lowering it from 14.25% to 14.00%.
October 18, 2016
Retail sales (excluding cars and construction) fell 0.6% in August from the previous month in seasonally-adjusted terms.
October 7, 2016
Consumer prices in September increased 0.08% over the previous month, the lowest rise since July 2014.
October 4, 2016
In August, industrial production plunged 3.8% over the previous month in seasonally-adjusted terms, which significantly contrasted the 0.1% expansion recorded in July and marked the worst result since January 2012.
October 3, 2016
The Markit manufacturing Purchasing Managers’ Index (PMI) rose slightly in September, increasing from August’s 45.7 to 46.0.