TEXT-Brazil central bank statement on interest rates

BRASILIA, March 17 (BestGrowthStock) – Brazil’s central bank kept
its benchmark lending rate at a record low 8.75 percent on
Wednesday.

The bank’s monetary policy committee, known as Copom, voted
five to three in favor of holding the so-called Selic rate.
Policymakers slashed a cumulative 500 basis points off the rate
in 2009. For more, see: [ID:nN17167375].

Following is the text of the statement issued by the Copom
after its two-day monetary policy meeting:

“Evaluating the macroeconomic scenario and the outlook for
inflation, the Copom decided to hold the Selic rate at 8.75
percent a year, without bias, with five votes in favor and
three votes to raise the Selic rate by 0.5 percentage point.
The committee will carefully monitor the development of the
macroeconomic outlook until its next meeting, to then define
the next steps of its monetary policy strategy.”

Stock Research

(Compiled by Todd Benson; Editing by Andrew Hay)

TEXT-Brazil central bank statement on interest rates