Brasília – The Brazilian Central Bank has maintained its credit growth forecast for this year at 12%. In August, credit operations amounted to R$ 2.864 trillion (US$ 1.193 trillion), up 11.1% over the 12-month period ended August. Credit is expected to be equivalent to 58% of Brazil’s Gross Domestic Product (GDP), i.e. the sum of all goods and services produced in the country, same as in the prior estimate. <\/p>\n
Free credit, whereby banks are free to invest on the market and set interest rates, should be up 6%, less than July’s 7% estimate. The projection for directed credit (loans with rules set by government, primarily targeting housing, farmers and infrastructure) was maintained at 19%.<\/p>\n
According to the head of the Central Bank’s Economic Department, Tulio Maciel, the bank’s measures designed to provide more funds for banks to loan have prevented a downward revision of credit growth forecasts for this year. In August, the Central Bank supplied R$ 25 billion (US$ 10.4 billion) for banks to loan. By the end of July, the monetary authority had already announced measures designed to inject R$ 45 billion (US$ 18.7 billion) into the economy.<\/p>\n
*Translated by Gabriel Pomerancblum<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" The Central Bank has maintained its forecast for the year. In the 12-month period ended August, credit was up 11.1%. The government\u2019s credit incentive measures have prevented further decline.<\/p>\n","protected":false},"author":2315,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-49077","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy"},"wps_subtitle":"The Central Bank has maintained its forecast for the year. In the 12-month period ended August, credit was up 11.1%. The government\u2019s credit incentive measures have prevented further decline.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/49077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=49077"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/49077\/revisions"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=49077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=49077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=49077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}