Tag: Brazil's Central Bank Monetary Policy Committee (Copom)

• Monday, December 30th 2024 - 10:58 UTC

  Hard times ahead for Lula and Brazilian Real, the most devalued currency in 2024

  

  US dollar expectations in the Brazilian market are beating forecasts having reached R$ 6.30 in December, (from 4.85 in January 2024) making the Brazilian Real one of the largest currencies of emerging countries, as the most devalued during 2024, despite the Central Bank pumping some US$ 17 billion to the market hoping to contain the slide.

• Thursday, September 19th 2024 - 08:00 UTC

  Brazilian central bank raises Selic rate to 10,75%, fearing inflation resurgence

  

  While the United States Federal Reserve decided to cut its reference interest rate arguing inflation was under control, Brazil's Central Bank decided the opposite and actually hiked 25 bases point its already high Selic benchmark from 10,50% to 10,75%.

• Tuesday, August 6th 2024 - 20:31 UTC

  BCB's Copom would not hesitate to up Selic if need be

  

  Brazil Central Bank's Monetary Policy Committee (Copom) warned that it would not hesitate to up the basic Selic interest rate to make sure inflation meets the target if necessary.

• Thursday, June 20th 2024 - 15:25 UTC

  Fearing inflation ahead, Brazil's central bank leaves basic rate unchanged at 10,50%

  

  With budget overspending and prospects of higher inflation in weeks ahead, the Brazilian central bank, independent from the Executive, kept the Selic rate unchanged at 10.50%. This means there are no expectations for a resumption of the rates easing cycle this year.

• Thursday, May 9th 2024 - 23:31 UTC

  Brazil's Central Bank lowers Selic rate once again

  

  Brazil's Central Bank (BCB) lowered once again the South American country's Selic benchmark interest rate to 10.5% per year amid a recent rise in the quotation of the US dollar, Agencia Brasil reported.

• Thursday, March 21st 2024 - 09:41 UTC

  Brazil's Copom further lowers Selic interest rate in line with market expectations

  

  Brazil's Monetary Policy Committee (Copom) announced Wednesday that it was further cutting the economy's basic interest rate known as Selic by 0.5 percentage points to 10.75% per year, Agencia Brasil reported.

• Sunday, December 11th 2022 - 08:30 UTC

  Brazilian central bank keeps Selic rate at 13,75%; anticipates hawkish approach to combat future inflation

  

  The Brazilian central bank maintained the benchmark Selic at 13.75% for a third consecutive meeting this week, as expected by all analysts. It was the last rate meeting before Lula da Silva assumes the country’s presidency on January first.

• Tuesday, August 9th 2022 - 07:32 UTC

  Slight improvement in Brazil's inflation forecast

  

  Brazil's Central Bank (BCB) released a new study whereby this year's National Wide Consumer Price Index (IPCA) projections for this year fell from 7.15% to 7.11%, in what became the sixth consecutive forecast reduction.

• Thursday, August 4th 2022 - 10:01 UTC

  Brazil raises benchmark interest rate to 13,75%, and possibly more to come

  

  Brazil's central bank raised its benchmark interest rate 50 basis points to a record 13,75%, (the highest since January 2017), anticipating that the tightening cycle, may not be over given the stubborn high domestic inflation and “adverse and volatile” global situation.

• Monday, December 16th 2019 - 09:50 UTC

  Brazil's basic interest rate at an all time low of 4.50%

  

  Brazil's central bank cut its benchmark Selic interest rate to an all-time low of 4.50% this week but indicated that with borrowing costs so low and economic growth starting to pick up, it may mark a pause in the easing cycle, if not the end.