Brazil Central Bank Copom Statement on Rate Decision

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

“Giving continuation to the adjustment of the benchmark interest rate, the Copom decided unanimously to raise the Selic rate to 8.50 percent a year, without bias.

The committee considers that this decision will contribute to put inflation on a decline and assure that this trend will persist next year.

The following board members voted for this decision: President Alexandre Antonio Tombini, Aldo Luiz Mendes, Altamir Lopes, Anthero de Moraes Meirelles, Carlos Hamilton Vasconcelos Araujo, Luiz Awazu Pereira da Silva, Luiz Edson Feltrim and Sidnei Correa Marques.”

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