Brazil is one of the countries with highest interest rates in the world.
- July 19th: Central Bank cuts interest by 50 basis points. The SELIC is now 11.5% p.a. The decision is taken by seven directors of the Central Bank; this time, four directors voted for a reduction of 50 points, whereas two voted for 25 points. In the last meeting, when the rate was also cut by 50 points, five directors endorsed it; market analysts believe that, from now on, the cuts will be of 25 points.