Brazil Central Bank Copom Statement on Rate DecisionMatthew Malinowski
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 9.50 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.”