The committee said the move was driven by the adverse external environment and the indicators of economic activity and the domestic labor market, still more dynamic than expected.
Campos Neto also discussed the government decree that instituted the new system for continuous inflation targets, with the National Monetary Council setting the center of the continuous target at 3%.
The decision was motivated by the recent rise in the dollar and increased uncertainties. The 0.25 percentage-point drop, however, shows that the cuts are coming at a slower pace.
In the view of economist Gilberto Braga, the figures show the success of the macroeconomic policy of the government and the Central Bank’s Monetary Policy Committee.
This is the second time in six months the Selic rate is decreased. As at the previous meeting, the financial institution stated it should continue to make reductions of the same intensity in the future.
Português 
Español 
