Brazil, Central Bank: rates down by 50 bp to 12%

1 September 2011, 10:45 | di FIRSTonline editorial team | 0

This interrupts a cycle of hikes that had been going on for months now in order to fight inflation, which this year is at 6,3% – Economists had predicted that interest rates would remain at the previous level of 12,5%.

Brazil, Central Bank: rates down by 50 bp to 12%

Turnaround for the Central Bank of Brazil, which today lowered interest rates for the first time since the beginning of the year. The drop was 50 basis points, down to 12%. Economists had instead predicted that interest rates would remain at the previous level of 12,5%. This interrupts a cycle of increases that has been going on for months now in order to fight inflation, which this year is at 6,3%. The target set by the Government for 2011 is to reach 4,5%.

FIRSTonline editorial team

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