FOREX TradingCharts.com

Financial News: Brazil Central Bank Keeps Rate Unchanged

Brazil Central Bank Keeps Rate Unchanged

10/27/2022 - 06:26:00 (RTTNews)

(RTTNews) - Brazil's central bank left its key interest rates for the second straight meeting on Wednesday despite a slowdown in inflation.

The monetary policy committee, known as Copom, decided to hold the Selic rate at 13.75 percent. This was the highest rate since late 2016.

The bank had raised its key rate at each rate-setting meeting since March 2021 from a record low 2.00 percent to its current level until March 2022.

The committee said its latest decision reflects the uncertainty around its inflation outlook, high variance in the balance of risks, and is consistent with the strategy for inflation convergence to a level around its target throughout the relevant horizon for monetary policy.

The committee said its strategy involves keeping the Selic rate at its current level for a sufficiently long period.

The decision reinforces the assessment that the sharp fall in inflation in the last few months would not push Copom to cut interest rates any time soon, William Jackson, an economist at Capital Economics, said.

In September, consumer price inflation eased to 7.17 percent from 8.73 percent in August.

Although inflation slowed to the lowest level in nearly one-and-a-half years, inflation remains high, the central bank said. The bank aims to keep inflation between 2.0 percent and 5.0 percent.

Copom's inflation projection for 2022 was 5.8 percent. Inflation is forecast to ease to 4.8 percent next year and 2.9 percent in 2024.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Philippines Industrial Production Rises; Jobless Rate Falls To 4.5% (01 hr(s), 32 min(s), 55 sec(s) ago)
(RTTNews) - The Philippines' industrial production index increased in October and the unemploy ...Full Story»

Italy Retail Sales Fall 0.4% In October (01 hr(s), 35 min(s), 55 sec(s) ago)
(RTTNews) - Italy's retail sales decreased in October after rebounding in the previous month, ...Full Story»

Will Germany Avoid A Recession On Industrial Resilience? (01 hr(s), 47 min(s), 55 sec(s) ago)
(RTTNews) - Germany industrial production dropped only slightly in October despite the sharp weakn ...Full Story»

Norway Industrial Production Falls For Second Month (02 hr(s), 16 min(s), 55 sec(s) ago)
(RTTNews) - Norway's industrial production fell for the second consecutive month in October as ...Full Story»

Swiss Jobless Rate Rises As Expected In November (02 hr(s), 55 min(s), 55 sec(s) ago)
(RTTNews) - Switzerland's unemployment rate increased slightly in November, in line with expec ...Full Story»

Thailand Inflation Slows On Food Price Fall (03 hr(s), 24 min(s), 55 sec(s) ago)
(RTTNews) - Consumer price inflation in Thailand eased for the third month in a row in November am ...Full Story»

UK House Prices Fall Most In Over 14 Years Amid Cost Of Living Crisis, Recession Worries (03 hr(s), 40 min(s), 55 sec(s) ago)
(RTTNews) - UK housing market continued to slow in November as house prices decreased for a third ...Full Story»

China Exports & Imports Hurt By Zero Covid Policy, Weaker Demand (04 hr(s), 49 min(s), 55 sec(s) ago)
(RTTNews) - China's exports and imports fell more than expected in November as strict Covid re ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Philippines Industrial Production Rises; Jobless Rate Falls To 4.5%

12/07/2022 - 04:49 AM (RTTNews)
(RTTNews) - The Philippines' industrial production index increased in October and the unemploy ...Full Story>>

Italy Retail Sales Fall 0.4% In October

12/07/2022 - 04:46 AM (RTTNews)
(RTTNews) - Italy's retail sales decreased in October after rebounding in the previous month, ...Full Story>>

Will Germany Avoid A Recession On Industrial Resilience?

12/07/2022 - 04:34 AM (RTTNews)
(RTTNews) - Germany industrial production dropped only slightly in October despite the sharp weakn ...Full Story>>

Norway Industrial Production Falls For Second Month

12/07/2022 - 04:05 AM (RTTNews)
(RTTNews) - Norway's industrial production fell for the second consecutive month in October as ...Full Story>>

Swiss Jobless Rate Rises As Expected In November

12/07/2022 - 03:26 AM (RTTNews)
(RTTNews) - Switzerland's unemployment rate increased slightly in November, in line with expec ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.