At its meeting on 8 June, the Central Bank Monetary Policy Committee (COPOM, Comite de Politica Monetaria) voted unanimously to raise the SELIC interest rate by 25 basis points to 12.25%. The decision was widely expected by the market, as it followed a similar move at its previous meeting in April. The COPOM maintained its position that adjustments to monetary conditions ?for a sufficiently long period remain the best strategy to ensure the convergence of inflation to the target in 2012.? Accordingly, market participants expect at least another 25 basis points hike before the end of the tightening cycle.
Brazil Monetary Policy
COPOM raises rates in line with expectations
June 8, 2011
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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.