The Brazilian Central Bank’s Monetary Policy Committee has once again lowered the country’s benchmark interest rates, to a record-low 4.25 percent a year. It is the latest effort to stimulate the economy, amid growing uncertainty in the global landscape caused by fears of a Chinese slowdown due to the coronavirus outbreak.
But even though basic interest rates have been at all-time lows since March 2018, the real estate market shows there’s still room for stimulus in Brazil.
“Liquidity is not yet typical of times of bonanza, we still see some hardships. We are still expecting measures [of monetary easing] to come into effect,” said José Augusto Viana Neto, president of the São Paulo real estate agents association (CRECI-SP) to The Brazilian Report.