Copom reduces the Selic rate to 8.00 percent

11/07/2012 8:35:00 PM

Brasília - The Copom considers that, at this moment, the risks for the inflation path remain limited. The Committee also notes that, up to now, given the fragility of the global economy, the contribution of the external sector has been disinflationary.

Therefore, continuing the adjustment process of monetary conditions, the Copom unanimously decided to reduce the Selic rate to 8.00 percent p.a., without bias.

The following members of the Committee voted for the reduction of the Selic rate to 8.00 percent p.a.: Alexandre Antonio Tombini, Governor, Aldo Luiz Mendes, Altamir Lopes, Anthero de Moraes Meirelles, Carlos Hamilton Vasconcelos Araújo, Luiz Awazu Pereira, Luiz Edson Feltrim and Sidnei Corrêa Marques.

The July Copom Minutes will be released in Portuguese next Thursday, July 19.

See also

Click here to see the 2012 Copom Meetings Schedule.

Click here to see the Copom´s objectives and background.

Click here to see the Copom Meeting Minutes.

Click here to see past Inflation Reports.

Click here to see past Inflation Reports (in Portuguese).