{"id":26701,"date":"2012-01-19T02:14:00","date_gmt":"2012-01-19T07:14:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2012\/01\/19\/brazil-central-bank-cuts-selic-rate-50bps-to-10-50\/"},"modified":"2012-01-19T02:14:00","modified_gmt":"2012-01-19T07:14:00","slug":"brazil-central-bank-cuts-selic-rate-50bps-to-10-50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/01\/19\/brazil-central-bank-cuts-selic-rate-50bps-to-10-50\/","title":{"rendered":"Brazil Central Bank Cuts Selic Rate 50bps to 10.50%"},"content":{"rendered":"
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The Banco Central Do Brasil<\/a> cut the Selic interest rate by another 50 basis points to 10.50% from 11.00% previously.  In its statement, Brazil’s Central Bank Monetary Policy Committee (Copom) said [translated]: “<\/span><\/span><\/span>The Monetary Policy Committee believes that the timely mitigate the effects coming from a more restrictive global environment, a moderate adjustment in the level of the base rate is consistent with the scenario of convergence of inflation to the target in 2012.”<\/span><\/span><\/span><\/span>
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Brazil’s central bank previously cut the rate by 50 basis points<\/a> in November, <\/span>October<\/a> and <\/span>September<\/a>, after raising the <\/span>Selic rate<\/a> by 25 basis points to 12.50% at the June Copom meeting last year, which at the time amounted to total tightening for the year of 175 basis points.  Brazil reported an annual inflation rate of 6.5% in December, compared to 7.31% in September, 7.23% in August, 6.87% in July, 6.71% in June, and 6.55% in May, and just outside the official inflation target of 4.50% +\/-2% (2.5-6.5%).  <\/span><\/p>\n


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The “BRIC” emerging market economy grew 0.0% q\/q in the September quarter (0.7% in June, 0.8% in March), placing annual growth at 2.1% (3.1% in Q2, and 4.2% in Q1).  The Brazilian Real (BRL) has weakened about 7% against the US dollar over the past year, while the USDBRL exchange rate last traded around 1.77<\/span><\/p>\n

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www.CentralBankNews.info<\/span><\/a><\/span><\/span><\/div>\n<\/div>\n
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The Banco Central Do Brasil cut the Selic interest rate by another 50 basis points to 10.50% from 11.00% previously.  In its statement, Brazil’s Central Bank Monetary Policy Committee (Copom) said [translated]: “The Monetary Policy Committee believes that the timely mitigate the effects coming from a more restrictive global environment, a moderate adjustment in the level of … <\/p>\n

Continue reading “Brazil Central Bank Cuts Selic Rate 50bps to 10.50%”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-26701","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/26701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=26701"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/26701\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=26701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=26701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=26701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}