Clipping of news on Brazilian Culture, Law and Citizenship
19/01/2012
This article was translated by an automatic translation system, and was therefore not reviewed by people.
SAO PAULO - The Copom (Monetary Policy Committee) of the Central Bank decided in the meeting ended on Wednesday (18), for a 0.5 percentage point reduction in the Selic (basic interest rate), which is 11% to 10.5% per year, confirming market expectations.
Thus, the average rate charged for loans to consumers is at 113.79% per year (6.54% monthly), according to the Anefac (National Association of Executives in Finance, Administration and Accounting). For companies, the average is, with the reduction in 57.05% pa (3.83% monthly).
in pocket
However, the fall in the Selic rate will little impact on interest rates charged to consumers. According to the association, this is because there is a large displacement between the basic interest rate and fees charged to the consumer, which causes a variation of more than ten times between the two ends.
The following tables show the interest rates on various forms of consumer credit and credit lines to enterprises:
Previous Operation Rate
(% A.m.) Current Rate
(% A.m.)
individual
Trade 5.36% 5.32%
Credit 10.69% 10.65%
Overdraft 8.36% 8.32%
CDC Banks
Auto Financing 2.18% 2.14%
banks
Personal Loan
4.21% 4.17%
financial
Personal Loan 8.66% 8.62%
Business
Working Capital 2.52% 2.48%
Duplicate Discount 2.96% 2.92%
Guaranteed Account 6.14% 6.10%
Source: Anefac
Source: InfoMoney
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This article was translated by an automatic translation system, and was therefore not reviewed by people.