Brazilian Central Bank brings down the basic interest rate in the country

The Monetary Policy Committee (Copom) of Central Bank (BC) of Brazil put down on Wednesday (7) the basic interest rate (Selic) by 0.75 percentage point. With the cut, the Selic rate went from 10.5% to 9.75% per year. This reduction …

Brazil is now the worlds 6th largest economy in the world

Commenting on news that Brazil surpassed the United Kingdom and will be at the end of 2011, the sixth largest economy in the world, Brazilian finance minister, Guido Mantega said on Monday that although Brazil grow at rates above developed …