Tag: Copom

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

  Brazil's Copom keeps Selic unchanged

  

  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

  

  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

  

  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 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%

  

  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

  

  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

  

  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%

  

  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

  

  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.

• Friday, June 18th 2021 - 09:35 UTC

  Interest rates in Brazil need to stay high to contain 2022 inflation, former minister says

  

  Former Brazilian Finance Minister Maílson da Nóbrega (Jan. 6 1988 - March 18, 1990) under President José Sarney has pointed out that the country needs to keep interest rates at a high level at least until the Selic rate reaches 6.5% per year.