Bank of Brazil
Bank of Brazil Implements another Rate Increase as Expected
October 9, 2013
The Brazilian Selic rate, which was cut by 150 basis points in the second half of 2011 and 375 bps in 2012, was lifted in each of the past meetings of Copom, the Bank of Brazil’s policymaking committee. The first move was by 25 bps, while the last four including today’s amounted to 50 bps […] More
Brazilian Monetary Policy Possibly Moves Closer to a Trend Reversal
March 6, 2013
Brazilian monetary policy is decided by Copom, a committee at the central bank, and such has been in easing mode since a 50-basis point Selic rate cut to 12.0% in August 2011. Nine more reductions ensued, the most recent of which was a 25-bp cut last October. That move left the key interest rate at […] More
Brazilian Interest Rate Cut
May 31, 2012
Brazil’s monetary policy committee, COPOM, reduced its key Selic interest rate to 8.5% from 9.0% late Wednesday. Such was the seventh reduction in an easing cycle begun nine months ago from a peak of 12.5%. These seven cuts totaling 400 basis points offset eight increases totaling 375 bps between April 2010 and July 2011, and […] More
Brazil Gets a Fourth Rate Cut
January 18, 2012
Copom, the policymaking committee of the Bank of Brazil, cut the Selic central bank interest rate by 50 basis points to 10.5%. This unanimously decided move follows similar half-percentage point reductions announced last August 31, October 19, and November 30. Slightly more than half of the 375 basis points of tightening from April 2010 through […] More
Brazilian Central Bank Interest Rate Hike
July 20, 2011
The Bank of Brazil’s monetary policy committee, COPOM, sanctioned a fourth consecutive and seventh overall Selic rate hike, the size of which was an as-expected 25 basis points to 12.50%. The cumulative increase in this gradual and prolonged cycle of increases stands at 375 basis points. The first two tightenings in June and July of […] More
Brazilian Rate Hike of 25 Basis Points
June 8, 2011
The Bank of Brazil’s monetary policy committee, known as COPOM, has implemented its seventh rate hike, lifting the Selic Rate to 12.25% from 12.0%. The action was widely forecast and followed consecutive increases in January, March, and April. Five cuts totaling 500 basis points were made between January 2009 and September of that year. The […] More
A Smaller Brazilian Rate Hike
April 20, 2011
Brazil’s committee of monetary policymakers, known as COPOM, has implemented its sixth rate hike of the cycle, increasing the benchmark Selic rate to 12.0% from 11.75%. In the earlier Great Recession, the Selic rate was cut in five moves from 13.75% at the end of 2008 to 8.75% by July 2009, and that low was […] More
