EconGrapher (< 20)

Central Bank of Brazil Lifts Selic Rate 25bps to 12.50%

July 21, 2011 – Comments (0) | RELATED TICKERS: BZF , OIBR

The Banco Central Do Brasil increased the Selic interest rate by 25 basis points to 12.50% from 12.25% previously.  In its statement, Brazil's Central Bank Monetary Policy Committee (Copom) said: "evaluating the prospective scenario and the balance of risks for inflation, the Copom decided, unanimously, at this moment, to raise the Selic rate to 12.50% p.a., with a neutral bias."  The statement dropped the use of the words "prolonged period" in terms of adjusting monetary conditions, suggesting the Bank may be near an end to its tightening cycle.

Full story: http://www.centralbanknews.info/2011/07/central-bank-of-brazil-lifts-selic-rate.html