The Central Bank of Brazil considered a more aggressive rate cut according to Copom minutes

18925322325_d660e03bc6_z

The Central Bank of Brazil’s Monetary Policy Committee discussed cutting the Selic rate by more than 1% at its last meeting but scotched the idea due to current risks to economic stability. 

“Committee Members considered the degree of front-loading desired to the current cycle. On the one hand, they argued that the evolution of the economy would allow for an increase monetary easing greater than that decided at the meeting,” state the minutes of the Copom meeting.

“On the other hand, members of the Copom also argued that given continued uncertainties and risk factors, it would be more appropriate to maintain the pace of the last meeting,” the minutes add.

1 thought on “The Central Bank of Brazil considered a more aggressive rate cut according to Copom minutes”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s