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MercoPress, en Español

Montevideo, December 22nd 2024 - 04:05 UTC

Tag: Central Bank of Brazil

  • Friday, December 20th 2024 - 10:30 UTC

    Brazil's real recovers against US dollar

    Brazil's Central Bank sold US$ 5 billion to stabilize the exchange rate

    Brazil's Central Bank (BCB) successfully maneuvered Thursday and got the US dollar to fall against the local real after volatility gripped financial markets amid President Luiz Inácio Lula da Silva's planned taxation reforms, Agencia Brasil reported. The US currency closed at R$ 6.12 following Congressional approval of the Government's legal package.

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  • Wednesday, December 18th 2024 - 10:22 UTC

    Brazil: Selic rate expected to keep growing next year

    Yoy inflation reached 4.87%, slightly above the 3% (+/- 1.5%) target

    Brazil's Central Bank's (BCB) Monetary Policy Committee (Copom) said Tuesday in a document that further hikes to the basic interest rate (Selic) were not to be ruled out next year given the rise of the US dollar against the Brazilian real, which crossed the BR$ 6 / US$ 1 barrier after the fiscal package announced by the Government of President Luiz Inácio Lula da Silva in recent days negatively impacted the market.

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  • Saturday, November 30th 2024 - 10:25 UTC

    Brazil: US dollar pierces R$ 6 barrier

    Brazil's Central Bank (BCB) did not intervene in the exchange rate

    The US dollar closed for the first time above the psychological R$ 6 barrier on another turbulent day in Brazil's markets, Agencia Brasil reported. The local scene continued to reverberate after the spending cut package announced earlier this week by Finance Minister Fernando Haddad, also impacting the stock exchange scene during the day.

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

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

    ”The pace of future adjustments of the interest rate and the total magnitude of the cycle that just started will be determined by the firm commitment of reaching the” target, said the release

    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%.

  • Thursday, August 1st 2024 - 09:07 UTC

    Brazil's Copom keeps Selic unchanged

    Most analysts concurred that there were uncertainties regarding the fiscal deficit

    Brazil's Central Bank (BCB) Monetary Policy Committee (Copom) unanimously agreed Wednesday to keep the Selic basic interest rate at 10.5% per year, Agencia Brasil reported. The measure followed through on June's decision to stop the downward cycle that spanned from August last year until March this year, during which the Selic was lowered by 0.5 percentage points at each meeting until in May it was 0.25 percentage points.

  • Tuesday, June 25th 2024 - 09:41 UTC

    Brazil's yearly inflation projection adjusted slightly upwards

    According to the Brazilian Institute of Geography and Statistics (IBGE), the IPCA has accumulated 3.93% in 12 months

    Brazil's Central Bank (BCB) Monday released the latest edition of its Focus Bulletin showing a slight upward adjustment in the Broad National Consumer Price Index (IPCA) from 3.96% to 3.98% this year, Agencia Brasil reported. The index is considered the country's official inflation. The weekly survey among leading financial institutions also projected an increase from 3.8% to 3.85% next year while for 2026 and 2027 the forecasts were 3.6% and 3.5% respectively.

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

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

    Brazil's central bank decisions are key since for many regional economies, in the short list of trade partners figures strongly Brazil and the Real currency.

    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.

  • Tuesday, March 5th 2024 - 10:41 UTC

    Brazil: Services sector driving prices upward, BCB President warns

    The BCB will pursue the inflation target to the letter but the market still expects it to be higher, Campos Neto pointed out

    Brazil's Central Bank (BCB) President Roberto Campos Neto said on Monday that inflation in South America's largest country was taking a turn in a “benign” direction, Agencia Brasil reported. In his view, the services sector requires the most attention because it has “started to put a bit of pressure” on prices.

  • Friday, December 15th 2023 - 10:36 UTC

    Brazil: Selic cut for fourth time in a row

    A similar reduction is foreseen for late January

    Brazil's Central Bank (BCB) cut the Selic benchmark rate for the fourth consecutive time, from 12.25% to 11.75% per annum, in line with market expectations, it was reported in Brasilia. The Selic is now at its lowest level since reaching 10.75% in March 2022.

  • Thursday, November 2nd 2023 - 09:39 UTC

    Brazil cuts basic interest rate to 12.25% per year

    The Selic rate is the BCB's main instrument for managing official inflation

    Brazil's Monetary Policy Committee (Copom) unanimously decided Wednesday to reduce the economy's basic interest rate (known as the Selic rate) by 0.5 percentage points to 12.25% per year, Agencia Brasil reported.

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