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LatinNews Daily - 01 August 2019

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In brief: Brazil cuts rate to 6%

* The monetary policy committee (Copom) of Brazil’s central bank (BCB) has cut its benchmark interest rate (Selic) by half a percentage point to 6%. This is the first cut since March 2018 and brings the benchmark interest rate to a new record low, as consumer spending stagnates and inflation is expected to continue below target next year. “Recent indicators of economic activity suggest the possibility of the resumption of the Brazilian economy’s recovery process”, the Copom states in its minutes, noting that this resumption will be gradual and depends on the continuation of economic adjustments and reforms.