Tag: SELIC

• Monday, August 3rd 2015 - 09:40 UTC

  Brazilian currency at its weakest against the US dollar since March 2003

  

  The Brazilian currency Real lost 1% at the end of trading on Friday and begins this week at 3.42 Reais to the US dollar, the lowest in twelve years, because of the political and economic uncertainties surrounding Latin America's largest economy.

• Thursday, June 4th 2015 - 08:54 UTC

  Despite a contracting economy Brazil increases basic interest rate to 13.75%

  

  Brazil raised interest rates to the highest levels in more than six years on Wednesday, extending a tightening campaign and leaving the door open for more hikes despite concerns that steep borrowing costs could deepen an expected economic recession.

• Friday, May 8th 2015 - 07:48 UTC

  Brazil's central bank to continue increasing rate, with inflation on target at the end of 2016

  

  Brazil's central bank expects inflation to run above the official target this year and next, despite months of monetary tightening, signaling policymakers could maintain an aggressive pace of interest-rate hikes to lower stubborn prices. In the minutes of its April 29 rate-setting meeting, the bank said it would remain vigilant to ease persistently high inflation.

• Tuesday, March 24th 2015 - 05:08 UTC

  Brazilian economy on path to biggest contraction since 1990, says central bank survey

  

  Financial experts expect Brazil's economy to shrink 0.83% in 2015, its biggest contraction since 1990, and inflation to climb to 8.12%, its highest level since 2003, according to the results of a Central Bank survey released on Monday.

• Friday, March 13th 2015 - 11:28 UTC

  Brazil central bank admits interest policy has not been effective in fighting inflation

  

  Brazil's Central Bank appears likely to continue raising interest rates in the short-term, saying in its most recent meeting that its inflation-fighting effort in recent months has been insufficiently effective. The view was reflected in the minutes, published on Thursday, of its monetary policy committee's March 4 meeting, when the bank raised its benchmark Selic interest rate by 50 basis points to 12.75%.

• 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.

• Monday, January 19th 2015 - 07:10 UTC

  Brazil central bank expected to raise interest rates this week for third time running

  

  Brazil's central bank is expected to raise interest rates for a third straight meeting this week to quell any doubts about its commitment to ending years of high 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.

• Thursday, July 24th 2014 - 23:34 UTC

  Brazil's priority is curbing resistant inflation, say central bank minutes

  

  Brazil's central bank indicated on Thursday it is unlikely to cut interest rates any time soon and instead is focused on curbing resistant high inflation even as the economy flirts with recession. In the minutes of its last policy meeting, the bank stressed that interest rates at current levels should help ease inflation in coming years.

• Tuesday, May 20th 2014 - 08:42 UTC

  Rousseff announces 70bn dollars for Brazilian agriculture at 6.5% interest

  

  President Dilma Rousseff announced Monday that the government will make available to Brazil's farmers and ranchers a 156.1 billion Reais (70.5 billion dollars) credit line, a hike of 14.7% over the previous season.