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MercoPress, en Español

Montevideo, November 21st 2024 - 17:42 UTC

Tag: Copom

  • Thursday, November 7th 2024 - 10:25 UTC

    Brazil's Copom raises Selic rate to 11.25%

    The measure was expected after the US dollar began to rise against the local real

    The Monetary Policy Committee (Copom) of Brazil's Central Bank (BCB) Wednesday agreed unanimously to increase the economy's basic interest rate known as Selic by 0.5%age points to 11.25% per year, Agencia Brasil reported. The move was expected within financial circles given the recent rise in the exchange rate between the local real and the US dollar which provided for an inflationary context.

  • 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.

  • Thursday, February 1st 2024 - 10:51 UTC

    Brazil lowers Selic basic interest rate

    Further Selic cuts are expected in the coming months

    Brazil's Monetary Policy Committee (Copom) unanimously decided Wednesday to cut down the country's basic interest rate known as Selic by 0.5 percentage points to 11.25% per year, Agencia Brasil reported.

  • 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, March 23rd 2023 - 10:45 UTC

    Brazil central bank keeps rate unchanged despite Lula's government complaints, “the highest in the world”

    “The Committee emphasizes that it will persist until the disinflationary process consolidates and inflation expectations anchor around its targets”

    The Brazilian Central kept interest rates unchanged for the fifth consecutive policy meeting on Wednesday, increasing concern and criticism from the government of president Lula da Silva. The bank's rate-setting committee, Copom, maintained its Selic benchmark interest rate at 13.75%. The decision, which defied intense pressure from the government of Lula da Silva, matched the expectations of analysts.

  • Saturday, July 9th 2022 - 10:03 UTC

    Uruguay Central Bank raised interest rate policy 50 basis point to 9,75%

    The Central Bank ratified its commitment to continue with a “contractive phase” as has been anticipated previously by the Monetary Policy Committee, COPOM.

    Uruguay's Central Bank of Uruguay this week ordered a 50 basis point increase in the interest rate policy, the eighth straight increase since last August. The move, which brings the monetary policy rate to 9.75%, means the central bank has ordered 525bp of increases in total over the past 11 months. The 50bp hike was somewhat smaller than the four previous hikes, which included April’s 125bp increase and three 75bp hikes.

  • Friday, December 10th 2021 - 09:56 UTC

    Brazil raised the benchmark interest rate to 9,25% to try and contain inflation

    The 150 basis points hike for the second time running, is the highest since 2017 and seventh straight increase, supported unanimously by all members of Copom

    Brazil's Central Bank raised its benchmark interest rate 150 basis points for the second time running to 9,25%, the highest since 2017, in an effort to contain growing inflation.

  • Saturday, October 23rd 2021 - 09:34 UTC

    Brazil's Guedes pushing for higher interest rates to contain inflation

    Next week the Brazilian central bank Copom will be meeting and a full percentage point increase is expected by financial markets

    Brazilian orthodox Economy minister Paulo Guedes has not resigned and has no intention of resigning despite the fact he will have to live with the exceptional expenditure of some 45bn Reais, as part of the Auxilio Brazil support program for vulnerable families and president Jair Bolsonaro's 2022 reelection plan.

  • Tuesday, August 17th 2021 - 11:15 UTC

    Uruguay central bank raises “price of money” reference from 4,5% to 5%

    Diego Labat, chairman of the central bank, sanitary situation has improved and the economic activity is bouncing back

    The Uruguayan central bank following the meeting of its Copom, Monetary Policy Committee, decided last week to raise the basic monetary policy rate from 4,5% to 5%, in line with what has been happening in other central banks in the region.

  • Wednesday, July 14th 2021 - 09:00 UTC

    Uruguay central bank leaves reference rate unchanged waiting for stronger recovery signals

    In its third 2021 meeting, Copom ratified the current reference interest rate of 4,5%, and anticipated it will wait for improved indicators

    The Uruguayan central bank is waiting for stronger signals of economic recovery before altering the current monetary policy, according to a release from the Monetary Policy Committee, Copom. In its third 2021 meeting, at the end of June, it ratified the current reference interest rate of 4,5% and anticipated it will wait for improved indicators from the pandemic battered economy.

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