BRASILIA, Sept 2 (Reuters) - Brazil's central bank voted on Wednesday to keep its benchmark lending rate unchanged at a record low 8.75 percent.
The bank's monetary policy committee, known as Copom, voted unanimously to leave the so-called Selic rate steady, in line with analysts' expectations. Policy-makers have slashed 500 basis points off the rate so far this year. For more, see:
Following is the text of the statement issued by the Copom after its two-day monetary policy meeting:
'Taking into account the prospects for inflation relative to the trajectory of the targets, the Copom decided to keep the Selic rate unchanged at 8.75 percent, with no bias, unanimously.
'Taking into account, on one hand, the easing of monetary policy implemented since January and, on the other hand, the factory capacity gap among other factors, the committee believes that this level is consistent with a benign inflation scenario, contributing to ensure the maintenance of inflation within the targets throughout the relevant time horizon and for the noninflationary recovery in economic activity.'
(Compiled by Guillermo Parra-Bernal; Editing by Dan Grebler) Keywords: BRAZIL ECONOMY/SELIC (elzio.barreto@thomsonreuters.com; +55 11 5644-7725; Reuters Messaging: elzio.barreto.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The bank's monetary policy committee, known as Copom, voted unanimously to leave the so-called Selic rate steady, in line with analysts' expectations. Policy-makers have slashed 500 basis points off the rate so far this year. For more, see:
Following is the text of the statement issued by the Copom after its two-day monetary policy meeting:
'Taking into account the prospects for inflation relative to the trajectory of the targets, the Copom decided to keep the Selic rate unchanged at 8.75 percent, with no bias, unanimously.
'Taking into account, on one hand, the easing of monetary policy implemented since January and, on the other hand, the factory capacity gap among other factors, the committee believes that this level is consistent with a benign inflation scenario, contributing to ensure the maintenance of inflation within the targets throughout the relevant time horizon and for the noninflationary recovery in economic activity.'
(Compiled by Guillermo Parra-Bernal; Editing by Dan Grebler) Keywords: BRAZIL ECONOMY/SELIC (elzio.barreto@thomsonreuters.com; +55 11 5644-7725; Reuters Messaging: elzio.barreto.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.