Central Bank of Brazil Leaves Policy as Is

June 8, 2016

Copom, the Brazilian monetary policy committee, kept its 14.25% Selic rate unchanged as expected.  Brazil remains deeply in recession, but inflation is twice as much as the 4.5% target and is thus the top concern.  Between October 2014 and July 2015, the Selic Rate was raised from 11% to 14.25% as the plunging real lifted inflation.  With less than two months until the Rio summer Olympic Games begin on August 5, Brazil is in awful economic and political shape.

Copyright 2016, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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