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.
The Monetary Policy Committee of the Brazilian Central Bank expressed its intention to continue making further 0.5-point reductions in the upcoming meetings.