Stênio Ribeiro
Reporter - Agência Brasil
Brasília - At its meeting last week, the Central Bank's (BC) Monetary Policy Committee (COPOM) reiterated that recent figures on inflation and short and medium-term projections suggest "the consolidation of a favorable setting" extending farther into the future.
This assessment is part of the minutes of the May 30-31 meeting, which lowered the official annualized benchmark interest rate (SELIC) from 15.75% to 15.25%. According to the BC directors that comprise the COPOM, the pace of economic activity is consistent with supply conditions, eliminating inflationary pressures.
Moreover, the international setting also remains favorable, despite the oscillation observed in recent weeks on financial markets, due to uncertainties over interest rates in Europe and the United States and the persistence of historically high petroleum prices.
Translation: David Silberstein