Bank of Brazil

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