The Monetary Policy Committee of the Brazilian Central Bank expressed its intention to continue making further 0.5-point reductions in the upcoming meetings.
The decline comes for the third month in a row, with the outflow exceeding the inflow by BRL 5.83 bi, the Central Bank reported. Interest credited to accounts added up to BRL 6.15 bi.
Drex distinguishes itself from cryptocurrencies. It will maintain a fixed value equivalent to the Brazilian real. Every 1 real will correspond to 1 Drex.
This positive outcome stands in contrast to June of the previous year, when Brazilians withdrew BRL 3.755 billion more than they deposited into savings accounts.
Its Monetary Policy Committee the Selic at 13.75% a year. Brazil’s benchmark interest rate has stood at this level since August 2022, the highest since January 2017.
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