Selic interest rate

Central Bank of Brazil Tightens Monetary Policy Again in Face of Accelerating Inflation and Contracting GDP

July 29, 2015

Copom, Brazil’s monetary policy committee, started raising its short-term Selic interest rate from a base of 7.25% in April 2013.  Inflation then of 6.6% was above target and threatening to send inflation expectations upward.  Over the ensuing year to April 2014, the Selic rate was increased by 3.75% to 11%, and policy tightening was put […] More

Central Bank of Brazil Tightens Credit Again

March 4, 2015

The monetary policy committee, known as Copom, raised the Selic interest rate by another 50 basis points, matching increases made on January 20 and December 3rd.  There also was a 25-basis point hike last October and 375 basis points of tightening between April 2013 and April 2014.  The new Selic rate level of 12.75% will […] More