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.
For the fourth consecutive time, the Brazilian Central Bank lowered the economy’s benchmark interest rate. Its committee unanimously decided to reduce the Selic rate to 4.5 percent a year, a 0.5 percentage point cut. The move had been expected by analysts.