2023-09-20 23:47:10
By Bernardo Caram
BRASILIA (Reuters) – The Central Bank decided this Wednesday to make a new cut of 0.50 percentage points in the Selic, to 12.75% per year, and stated that its board foresees equivalent reductions in the next meetings.
“If the expected scenario is confirmed, the Committee members unanimously foresee a reduction of the same magnitude in the next meetings and assess that this is the appropriate pace to maintain the contractionary monetary policy necessary for the disinflationary process”, informed the Monetary Policy Committee (Copom) in a statement.
The reduction in the basic interest rate announced this Wednesday was the second in a row, after the BC began its cycle of monetary easing with a 0.50 point cut in the Selic in August, indicating that it would maintain this pace of easing in meetings at forward unless substantial surprises were observed.
After a divided decision at the August meeting, BC directors unanimously voted to cut basic interest rates by 0.50 points at this month’s meeting.
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