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Financial News: BRAZIL: Central Bank Cuts To 1% Projection For

BRAZIL: Central Bank Cuts To 1% Projection For Credit Growth In 2017

06/28/2017 - 21:20:00 (RTTNews)

(RTTNews) - Brazil's Central Bank cut its projection for credit growth this year, from 2% to 1%, said the deputy chief of the economic department in the monetary authority, Fernando Rocha. He blamed the revision on the weak economic activity and the lack of recovery in corporate credit.

Total credit volume in Brazil's decreased by 0.2% in May compared to a month before and had a 2.6% annual decrease, to R$ 3.065 trillion. Loans to individuals totaled R$ 1.587 trillion in May, increasing by 0.6% on a monthly basis and 4% in an annual comparison. Corporate credit operations reached R$ 1.477 trillion, down 1% and 8.9%, respectively.

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07/24/2017 - 11:03 AM (RTTNews)
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