• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

Brazil raises rate for 3rd time, sees same hike in August

4 years ago
in Economy, highlights, Home, home-news, latest News
1 min read
0 0
0
80
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Brazil’s central bank raised its key interest rate for the third time this year – as expected – and said it expects to continue normalizing its monetary policy stance with another rate hike of the same magnitude at its next policy meeting in August to ensure inflation slows to its target by 2022.

The Central Bank of Brazil (BCB) raised its benchmark Selic rate by another 75 basis points to 4.25 percent and has now raised it by 2.25 percentage points since it began tightening its policy stance in March this year with a 75-point hike and followed this with a similar-sized hike in May.     

Although the bank’s policy committee, Copom, said it expects to raise the Selic rate by another 75-points on Aug. 4, it warned that a deterioration in inflation expectations “may require a quicker reduction of the monetary stimulus,” adding it’s view would depend on economic activity, the balance of risks and how these affect inflation projections.     

Read: A proposal to scale up global carbon pricing

Inflation in Brazil has been rising steadily since May last year and rose to a higher-than-expected 8.06 percent in May, the highest since September 2016, with drought and higher commodity prices adding to the upward pressure from improving demand.     

The central bank targets inflation of 3.75 percent this year, plus/minus 1.5 percentage points, and a midpoint target of 3.50 percent in 2022, within the same range.     Copom noted inflation expectations for 2021 in the weekly FOCUS survey now stand at 5.8 percent, then 3.8 percent for 2022 and 3.25 percent for 2023.      

Copom’s own projections assume a Selic rate that ends this year at 6.25 percent and then 6.50 percent in 2022.     

RelatedPosts

Nigeria, Kenya Follow Ghana’s Trailblazing GoldBod to Strengthen Economies

Morocco Crowned World Champions at the FIFA U-20 World Cup

GPL: Gold Stars Seek Redemption, Eleven Wonders Hunt First Win in Super Monday Doubleheader

Looking to Brazil’s economy, the bank said recent indicators continue to be better than expected despite the intensity of the second wave of the COVID-19 pandemic and the risks to the recovery have lessened.

Source: centralbanknews
Via: norvanreports
Tags: bank's policy committeeCentral Bank of Brazil (BCB)
No Result
View All Result

Highlights

OMCs Begin Over 4% Fuel Price Reductions Amid Cedi Gains and Decline in Global Oil Prices

Nigerians to pay more for ChatGPT on OpenAI’s 7.5% VAT

Prof. Baah-Boateng Urges Bank of Ghana to Prioritise Cedi Stability Amid Sharp Currency Swings

IMF Executive Board to Consider Ghana’s Fifth Programme Review in Early December

Rwanda Emerges as Africa’s First AI Scaling Hub With $17.5 Million Funding Boost

Engineers & Planners Reconstitutes Board and Management of Azumah Resources After Securing Ownership of Gold Mining Firm

Trending

Business

Nigeria, Kenya Follow Ghana’s Trailblazing GoldBod to Strengthen Economies

October 20, 2025

Nigeria, Kenya Follow Ghana’s Trailblazing GoldBod to Strengthen Economies As Ghana’s Gold Board (GoldBod) continues to reap...

Morocco Crowned World Champions at the FIFA U-20 World Cup

October 20, 2025

GPL: Gold Stars Seek Redemption, Eleven Wonders Hunt First Win in Super Monday Doubleheader

October 20, 2025

OMCs Begin Over 4% Fuel Price Reductions Amid Cedi Gains and Decline in Global Oil Prices

October 20, 2025

Nigerians to pay more for ChatGPT on OpenAI’s 7.5% VAT

October 20, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.