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Brazil’s COPOM Increases Selic Interest Rate to 12.75 Percent

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Brazilian Central Bank’s Comitê de Política Monetária - COPOM (Monetary Policy Committee) decided unanimously on Wednesday, March 4th, to increase the country’s benchmark interest rate (Selic) by 0.5 percentage points from 12.25 percent to 12.75 percent per year. The increase was in line with investors and market analysts’ forecasts. With the latest increase, the Selic returns to levels last seen in January 2009.

“Assessing the macroeconomic scenario and the perspectives for inflation, the COPOM decided, unanimously, to increase the Selic rate by 0.50 . . .

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