Brasília - The Copom unanimously decided to reduce the Selic rate to 7.50 percent p.a., without bias.
Considering the cumulative and lagged effects of policy actions implemented until the moment, which in part reflect in the ongoing recovery of economic activity, the Copom understands that, if the prospective scenario justifies an additional adjustment in the monetary conditions, this movement should be conducted with extreme parsimony.
The following members of the Committee voted for the reduction of the Selic rate to 7.50 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 August Copom Minutes will be released in Portuguese next Thursday, September 6.
See alsoClick here to see the 2012 Copom Meetings Schedule.