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

• Thursday, April 30th 2015 - 07:52 UTC

  Brazil raises basic rate 50 points to 13.25%, highest since December 2008

  

  As was anticipated and in line with the current anti-inflation policy, Brazil's central bank on Wednesday evening announced the increase of the basic Selic interest rate another 50 points to 13.25% from 12.75%. The decision from the nine-member Monetary Committee was unanimous, according to the official release.

• Thursday, March 5th 2015 - 08:17 UTC

  Brazil raises benchmark interest to 12.75%, highest level since 2009

  

  Brazil’s central bank raised its benchmark interest rate to 12.75% Wednesday, the highest level since 2009, as it struggles to get price increases under control amid sluggish economic growth and deepening political turmoil.

• Thursday, January 22nd 2015 - 06:39 UTC

  Brazil central bank increases basic rate to 12,25%, highest since August 2011

  

  Brazil's central bank raised interest rates to a more than three-year high on Wednesday, maintaining an aggressive pace of monetary tightening to contain high inflation, help the economy back on its tracks and win investors disillusioned with the once-booming economy.

• Wednesday, December 17th 2014 - 00:53 UTC

  Brazil's real sinks against US dollar to lowest rate in 10 years

  

  The currency closed at R$ 2.76 per US$ 1 dollar. Domestic politics, international oil prices, US Fed measures and Russian ruble drop to blame.

• Thursday, December 4th 2014 - 05:03 UTC

  Brazil raised the basic interest rate 50 basic points to 11.75%

  

  Brazil's central bank on Wednesday raised its key interest rate by 50 basis points to 11.75%. The rise came on the back of a one quarter point rise just over a month ago which was the first since April and in the wake of populist Dilma Rousseff's re-election as president, who last week appointed a new finance team to tackle rising inflation.

• Thursday, October 30th 2014 - 10:39 UTC

  In a divided vote, Brazil's central bank raised the Selic rate 25 points to 11.25%

  

  In a surprise move and in divided vote (5 to 3), Brazil's central bank monetary board, Copom, decided to raise its benchmark Selic rate by 25 basis points to 11.25%. A majority of economists and analysts anticipated that the bank would opt to keep rates unchanged.

• Friday, July 18th 2014 - 07:45 UTC

  Brazil leaves basic interest rate unchanged at 11%; no surprises expected ahead of October election

  

  Brazil held interest rates unchanged for a second straight time this week but did not commit to keeping them stable for long as inflation remains high in Latin America's top economy. The Brazilian economy performance is anemic and next October president Dilma Rousseff is bidding for re-election.

• Friday, July 11th 2014 - 01:37 UTC

  Uruguay central bank admits inflation remains the main concern and pledges monetary contraction

  

  Uruguay's Central bank confirmed that inflation remains the leading challenge and ratified the current monetary contractive policy with the M1 money supply index converging to 8% from its current 10.4%, in a 'not too distant horizon'.

• Thursday, May 29th 2014 - 05:51 UTC

  Brazil's central bank opted to leave rate unchanged at 11%, “at this moment”

  

  Brazil left its benchmark interest rate unchanged on Wednesday. In a unanimous decision, the central bank's monetary policy committee, Copom, kept the Selic rate at 11%, breaking a streak of nine consecutive hikes as expected by a majority of analysts and market traders.

• Thursday, April 3rd 2014 - 07:21 UTC

  Brazil central bank raises benchmark Selic rate to 11%

  

  Brazil's central bank raised its benchmark Selic rate to 11% from 10.75% on Wednesday, prolonging its tightening cycle after a surge in food prices that has stoked already high inflation in an election year. The bank's decision was unanimous and left the door open for possible further rate hikes.