Brazil : BRAZILIAN Central Bank unleashes 30 billion reals to boost lending and liquidity.
Releasing around 30 billion reals (U.S. dollars 13.63 billion) to enhance lending and boost liquidity, the Central Bank of Brazil has announced a reduction in reserve requirements.
The new rules will allow banks to use up to 50 percent of reserves for credit operations, new loans and diversified investment portfolios.
The bank stated : "The central bank decided to adopt the measures to improve the economy's distribution of liquidity."
The steps are meant to rejuvenate the country's economy, which would rise merely 1 percent in 2014.
Brazil's economic development that hit 7.5 percent in 2010 has since been moving downwards, with a 2.7 percent rise in 2011, 1 percent in 2012 and 2.5 percent in 2013, respectively.
The bank said its reserves have increased from 194 billion reals ($88.18 billion) in 2009 to 405 billion reals ($184.09 billion) now, enabling it to use part of its resources to increase cash flow.
2014 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).
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|Date:||Jul 28, 2014|
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