Brazil’s Central Bank for the fifth consecutive time has lowered the economy’s benchmark interest rate, known as Selic, to 4.25 percent a year, down 0.25 percentage points. The rate serves as a reference for other interest rates in the economy.
The average unemployment rate in Brazil fell to 11.9 percent in 2019, below 2018’s 12.3 percent. The figures com from the Continuous PNAD (National Household Sample Survey), published today (Jan. 31) by the country’s government statistics agency IBGE.
The financial institutions surveyed by Brazil’s Central Bank (BC) reduced the estimated inflation for this year. The projection for the National Broad Consumer Price Index—the IPCA, which gauges the country’s official inflation—went from 3.56 percent to 3.47 percent.