Stênio Ribeiro      Reporter Agência Brasil

Brasília – The Central Bank’s Monetary Policy Committee (“Copom”) slashed the country’s benchmark interest rate, the Selic, by 0.75 percentage points for the second consecutive time, lowering it to 9% per year. The decision was unanimous. Copom has now reduced the Selic six consecutive times since last August when it was 12.50%.

Market surveys have found that most financial analysts see the Selic at 9% at the end of the year. Wednesday’s decision will give Copom plenty of time to see if they can keep the interest rate stable for the rest of the year while dealing with domestic inflationary pressure and threats from the international economic situation.

Allen Bennett – translator/editor The News in English

Link - Copom reduz taxa básica de juros para 9% ao ano