10/19/2011 - 162nd Meeting

Brasília - Continuing the process of adjustment of monetary conditions, the Copom unanimously decided to reduce the Selic rate to 11.50 percent, without bias. The Copom understands that, by promptly mitigating the effects stemming from a more restrictive global environment, a moderate adjustment in the basic rate level is consistent with the scenario of convergence of inflation to the target in 2012.

The October Copom Minutes will be released in Portuguese next Thursday, October 27.