Central Bank indicated that it is likely to implement another 0.5 percentage point reduction at its next meeting in May. This raises the possibility that the committee will pause the cycle of rate cuts starting from June onwards.
According to Ilan Goldfajn, $3.4 billion will be offered in derivatives contracts that will be passed on from the Central Bank to Brazilian financial institutions.
The Selic rate is the Central Bank's main instrument for keeping official inflation under control, as gauged by the Broad National Consumer Price Index.
The Selic rate is the Central Bank's main instrument for keeping official inflation under control, as measured by the Broad National Consumer Price Index (IPCA).
"Since we've addressed the issues of technology and settlement, the focus will be on the governance of international payments", explained the head of the Central Bank of Brazil.
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