|
|
Article: Brazil raises annual basic interest rate to 13.75 percent
- Article from:
- Xinhua News Agency
- Article date:
- September 11, 2008
CopyrightCopyright 2008 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
|
Brazil raises annual basic interest rate to 13.75 percent
RIO DE JANEIRO, Sept. 10 (Xinhua) -- Brazil's Monetary Policy
Committee (Copom) announced on late Wednesday its decision to
increase the country's annual basic interest rate (Selic) from 13 to
13.75 percent.
On the same day, the Brazilian Institute of Geography and
Statistics (IBGE) announced that Brazil's GDP grew by 6 percent in
the first half of 2008.
It was the fourth consecutive interest rise this year. In April
and June, Copom raised the interest rate by 0.5 percent twice, and
in July by 0.75 percent.
For the first time since July 2007, the committee's decision was
not unanimous -- three of the eight members voted ...