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Brazil Expecting Half-Percentage Cut in Key Interest Rate
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Brazil Reduces Key Interest Rate by 0.75% to 17.25%
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High Inflation Doesn't Deter Bulls in Brazil
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Taxes and High Interests Are the Main Bad Guys in Brazilian Economy
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Brazilian Central Bank's Survey Offers Hint of Falling Interest Rates
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As Expected, Brazil's Key Interest Rate Drops to Still High 15.75%
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Brazil's Jobless Rate Jump to 10.4% Is Bad News for Market Too
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Brazil Keeps Key Interest Rate at Record Low 8.75%
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Brazil Cuts Interest Rates by 0.5%. Largest Reduction in 2 Years. |
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Written by Edla Lula
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Thursday, 20 October 2005 |
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Brazil's Monetary Policy Committee (Copom) of the Central Bank (BC) decided Wednesday, October 19, to lower the annualized benchmark interest rate (Selic) to 19%. The Selic is used by banks as a reference for determining the interest they charge. The reduction, from 19.5% to 19%, is the largest since 2003.
For a year the BC had been following a cautious monetary policy, with gradual monthly hikes in the rate. In September, 2004, the Copom, perceiving the threat of inflation, decided to raise the rate from 16%, where it had stood since April of that year, to 16.25%. According to projections made at the time, inflation was expected to overshoot the targets of 5.5% for 2004 and 4.5% for 2005.
Based on this prospect, the rate was raised again in October, by 0.25%. In both November and December, months in which consumption rises, due to Christmas shopping, the rate was lifted 0.5%, ending the year at 17.75%.
Between January and March of this year, the monthly increases continued in steps of 0.5%. In April the Copom concluded that the policy of raising interest rates as a way to combat inflation was producing results and decided to slow the pace, adding 0.25% to the rate, which rose to 19.5%.
Another 0.25% was added in May, and the rate remained at 19.75% until August. Last month, one year after the BC began its policy to force a retreat in inflation, the decision was made to embark upon a new course, this time through reductions in the Selic, which was lowered to 19.5% in September.
Agência Brasil
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Brazil received a huge boost in its international image with its selection as the host of the 2016 Olympics, but it was really just the cherry on top of the overall recognition of the country's ascension to the ranks of one of the world's most important countries. Now, as it finally takes its place on the world scene, there has been a great deal of concern about what kind of image Brazil hopes to project, now that the world is really paying attention. 
The only good thing to say about the visit to Brazil of Iran's president, Mahmoud Ahmadinejad, on Monday November 23, is that it was mercifully short and lasted less than 24 hours. Ahmadinejad had his picture taken being hugged by president Luiz Inácio Lula da Silva who gave him a warm welcome and said Iran had every right to develop nuclear energy for peaceful purposes. 
The small, coastal town of Condé is located just a twenty minute's drive from João Pessoa, the capital of Paraíba. The Northeast of Brazil has historically been a place of encounter and mixing between peoples. For millenia groups of indigenous people fished, farmed, migrated and sometimes fought along this large, fertile area. 
The Brazilian diplo-MÁ-cia (bad diplomacy) carries on its accelerated course towards the non-acknowledgment of human rights, although sometimes it takes pleasure in saying that it does precisely the opposite. The visit of Iran's president, Mahmoud Ahmadinejad, is another example of a diplomatic omission that verges on hypocrisy. 
On July 4, 2006, representatives of Argentina, Brazil, Paraguay and Uruguay met in Caracas to sign the protocol for the entrance of Venezuela into the Southern Common Market (Mercosur). After two and a half years, the protocol was approved by the legislative bodies of Argentina and Uruguay, and as of now it may be only days away from being ratified by the continent's economic megalith, Brazil. 
Some sectors of the fight against AIDS have suggested that Thabo Mbeki, the former president of South Africa, committed genocide through his absence from the fight against the illness in his country throughout his two terms. 
One hundred and eleven years after Brazil abolished slavery, the number of workers deprived of their freedom is still huge. They raise cattle, produce charcoal, sugar cane or timber. Some of them, most undocumented Bolivians, work in basements of small apparel factories in São Paulo and other metropolis. 
On November 7, 2009 a few friends and I had an opportunity to take a look inside a Brazilian jail outside the city of Rio de Janeiro. We were able to take some amateur footage of our experience on video (see link below). It's no surprise, of course, that the typical Brazilian jail lacks some of the functionality of those in North America or Europe, but our experience that day was quite shocking. 
Depletion of the Amazon Rainforest is not a new concern facing environmentalists, biologists, ecologists, and a growing number of the Amazonian indigenous peoples. For decades they have feared for the fate of the world's most biologically diverse and species-rich hothouse. 
Geisy Arruda made history this week in Brazil, but for all the wrong reasons. What began as a poorly planned fashion statement has become a worldwide tale. Geisy decided to wear a pink mini-dress to her private college in São Paulo state, and after that, all hell broke loose.