Bloomberg News

Brazil Central Bank Copom Statement on Rate Decision

November 29, 2012

(Corrects to say voting for decision in fourth paragraph of story published Nov. 28.)

Following is a translation of the statement by Brazil’s central bank on its interest rate decision today.

“The Copom decided unanimously to keep the Selic rate at 7.25 percent p.a., without a bias.

Considering the balance of risks for inflation, the recovery of domestic activity and the complexity surrounding the global environment, the committee understands that the stability of monetary conditions for a sufficiently prolonged period of time is the most adequate strategy to guarantee the convergence of inflation to target, even if not in a linear fashion.

Voting for this decision were the following board members: President Alexandre Antonio Tombini, Aldo Luiz Mendes, Altamir Lopes, Anthero de Moraes Meirelles, Carlos Hamilton Vasconcelos Araujo, Luiz Awazu Pereira da Silva, Luiz Edson Feltrim and Sidnei Correa Marques.”

To contact the reporters on this story: Matthew Malinowski in Brasilia at mmalinowski@bloomberg.net; Andre Soliani in Brasilia at asoliani@bloomberg.net

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


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