Brazil's real interest rates are at almost 3%. Photo: Thinkstock
For the last year and a half, the Central Bank’s Monetary Policy Committee has consistently slashed Brazil’s benchmark interest rate. The Selic rate has gone from 14.25 percent a year in October 2016, to a record-low 6.5 percent. It doesn’t mean, however, that consumers have access to cheaper credit.
Indeed, Brazil’s interest rates remain among the world’s highest.
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