Brasília - The Copom decided to reduce the Selic rate to 7.25 percent, without bias, with 5 votes for the monetary policy aciton and 3 votes in favor of maintaining the Selic rate at 7.50 percent.
Considering the balance of risks for inflation, the domestic activity recovery and the complexity that surrounds the international environment, the Committee understands that the stability of monetary conditions for a sufficiently long period of time is the most adequate strategy to guarantee the convergence of inflation to the target, even in a non-linear way.
The following members of the Committee voted for the reduction of the Selic rate to 7.25 percent p.a.: Alexandre Antonio Tombini, Governor, Aldo Luiz Mendes, Altamir Lopes, Luiz Awazu Pereira and Luiz Edson Feltrim.
The following members of the Committee voted for the maintenance of the Selic rate at 7.50 percent p.a.: Anthero de Moraes Meirelles, Carlos Hamilton Vasconcelos Araújo and Sidnei Corrêa Marques.
The October Copom Minutes will be released in Portuguese next Thursday, October 18.
See alsoClick here to see the 2012 Copom Meetings Schedule.