Brazil Cuts Rate in Loans to Manufacturers to 8%
(Corrects headline and first paragraph to say the country cut the rate of an existing lending program.)
Brazil’s national monetary council lowered interest rates to 8 percent from 9 percent on a credit line of 6.7 billion reais of the Revitaliza program, which funds exports and investment in 20 manufacturing industries, according to a statement from the central bank.
The funds of the program are released by the country’s national development bank, or BNDES, according to the statement.
To contact the reporter on this story: Helder Marinho in Sao Paulo at firstname.lastname@example.org
To contact the editor responsible for this story: Fabiola Moura at email@example.com
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.