Brazil: Copom stands united
The Banco Central do Brasil (BCB) yesterday kept its benchmark SELIC lending rate at 11.25%, which was fully in line with market expectations. The bank's monetary policy committee, known as the Copom, voted unanimously to leave rates unchanged. After 18 consecutive cuts – which have brought the SELIC rate from 19.75% to 11.25% – the BCB has been on pause over the last three Copom meetings, and so it has thereby ended a more than two-year cycle of monetary easing.
Comments are off for this post
UK Interest Rates, Money Supply and Inflation 2008
The US Fed's emergency 0.75% interest rate cut to 3.5% following the global stock market plunge on fears of a looming US recession now increases the probability of a near certain cut in UK interest rates at the February MPC Meeting, rather than at the originally forecast March MPC meeting. Whilst the US has made deep cuts in interest rates from a peak of 5.25% to 3.5%, the UK has only cut rates by 0.25% from a peak of 5.75% to 5.50% with the expected February cut to take rates to 5.25%. The
Comments are off for this post