Brazil Central Bank Statement on Interest Rate Decision (Text)

Following is a translation of the statement by Brazil’s central bank on its interest rate decision today.

“The Copom considers that, at this moment, the risks for the inflation trajectory remain limited. The committee also notes that, until now, given the fragility of the global economy, the contribution of the external sector has been disinflationary.

Given this, and continuing the adjustment process of monetary conditions, the Copom decided, by a unanimous vote, to reduce the Selic rate to 9 percent per year, without bias.”

To contact the reporters on this story: Matthew Bristow in Brasilia at mbristow5@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.