{"id":66908,"date":"2015-01-21T18:13:20","date_gmt":"2015-01-21T23:13:20","guid":{"rendered":"http:\/\/countingpips.com\/?p=66908"},"modified":"2015-01-21T20:46:47","modified_gmt":"2015-01-22T01:46:47","slug":"brazil-unanimously-raises-rate-by-another-50-bps","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/01\/brazil-unanimously-raises-rate-by-another-50-bps\/","title":{"rendered":"Brazil unanimously raises rate by another 50 bps"},"content":{"rendered":"<div id=\"inves-2431913062\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 21, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/www.centralbanknews.info\/\"><u>CentralBankNews.info<\/u><\/a><br \/>\n&nbsp; &nbsp; Brazil&#8217;s central bank raised its benchmark Selic interest rate by a further 50 basis points to 12.25 percent, as expected, in light of &#8220;the macroeconomic scenario and the outlook for inflation.&#8221;<br \/>&nbsp; &nbsp; In a brief statement, the Central Bank of Brazil&#8217;s monetary policy committee, known as Copom, said the decision was unanimous and there was no bias indicated.<br \/>&nbsp; &nbsp; The central bank has now raised its policy rate by 500 basis points since embarking on a tightening cycle in April 2013, raising the rate by 175 points in 2014 alone, as inflation remained close to the upper limit of the bank&#8217;s target of 4.5 percent, plus\/minus 2 percentage points.<br \/>&nbsp; &nbsp; Economists had expected the central bank to raise rates in its effort to bring down inflation and Alexandre Tombini, central bank president, has stressed that the bank&#8217;s overriding mission is to slow inflation to the target by no later than 2016.<br \/>&nbsp; &nbsp; Brazil&#8217;s inflation rate has been above the central bank&#8217;s midpoint target since August 2010 but eased to 6.41 percent in December from 6.56 percent in November.<br \/><a name='more'><\/a><\/p>\n<p>&nbsp; &nbsp; The Central Bank of Brazil issued the following statement:<\/p>\n<div style=\"background-color: white;color: #666666;font-family: Verdana, Arial, 'Trebuchet MS', Tahoma, Helvetica, sans-serif;font-size: 11px\"><\/div>\n<div style=\"background-color: white;color: #666666\"><span class=\"\" style=\"font-family: inherit\">&nbsp; &nbsp; &#8220;Assessing the macroeconomic scenario and the outlook for inflation, the Committee decided unanimously to raise the Selic rate by 0.50 percentage points to 12.25% pa, without bias.<\/span><\/div>\n<div style=\"background-color: white;color: #666666\"><span style=\"font-family: inherit\">Voted for this decision the following members of the Committee: Alexandre Antonio Tombini (Chairman), Aldo Luiz Mendes, Altamir Lopes, Anthero de Moraes Meirelles, Carlos Hamilton Vasconcelos Araujo, Luiz Awazu Pereira da Silva, Luiz Edson Feltrim and Sidnei Corr\u00eaa Marques.&#8221;<\/span><\/div>\n<div style=\"background-color: white;color: #666666\"><span style=\"font-family: inherit\"><br \/><\/span><\/div>\n<div style=\"background-color: white;color: #666666\"><span style=\"font-family: inherit\">&nbsp; &nbsp; <a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><\/span><\/div>\n<div style=\"background-color: white;color: #666666\"><span style=\"font-family: inherit\"><br \/><\/span><\/div>\n<div style=\"background-color: white;color: #666666\"><span style=\"font-family: inherit\"><br \/><\/span><\/div>\n<div style=\"background-color: white;color: #666666\"><span style=\"font-family: inherit\">&nbsp; &nbsp;&nbsp;<\/span><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By CentralBankNews.info &nbsp; &nbsp; Brazil&#8217;s central bank raised its benchmark Selic interest rate by a further 50 basis points to 12.25 percent, as expected, in light of &#8220;the macroeconomic scenario and the outlook for inflation.&#8221;&nbsp; &nbsp; In a brief statement, the Central Bank of Brazil&#8217;s monetary policy committee, known as Copom, said the decision was [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-66908","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/66908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=66908"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/66908\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=66908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=66908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=66908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}