Brasília – For the fourth time running, the Central Bank (BC) reduced the Brazilian benchmark interest rate. The Monetary Policy Committee (Copom) has unanimously cut back Selic by 0.5 percentage point to 4.5% per annum. The decision had been expected by financial analysts.
With today (11)’s decision, Selic stands at its lowest level since the beginning of Central Bank’s historical series in 1986. Copom indicated in a press release that it’ll be cautious and will probably maintain the benchmark interest rate at 4.5% per annum for a long period, always studying the economic conditions.
BC emphasized that the structural reforms of the Brazilian economy must continue so that the rate remain low for a long time. This was the last meeting of Copom this year.
Translated by Guilherme Miranda
