Bloomberg News

Brazil Reduces Banks’ Reserve Requirements to Increase Car Loans

May 21, 2012

Brazil’s central bank will reduce reserve requirements to make it easier for banks to make auto loans, Finance Minister Guido Mantega said.

The government is also reducing taxes on some vhicles in a bid to stimulate demand and economic growth in Latin America’s biggest economy, Mantega said.

To contact the reporter on this story: Arnaldo Galvao in Brasilia Newsroom at agalvao1@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net


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