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Brazil keeps TJLP interest rate unchanged at 7.50 pct
December 21, 2016 / 9:00 PM / a year ago

Brazil keeps TJLP interest rate unchanged at 7.50 pct

BRASILIA, Dec 21 (Reuters) - Brazil’s National Monetary Council kept the interest rate at which state development bank BNDES pegs its loans unchanged for the fourth straight quarter.

The CMN, as Brazil’s highest economic body comprised of the finance and planning ministers and central bank president, said the TJLP rate will remain at 7.50 percent in the first quarter of 2017. The government has raised the TJLP by 250 basis points over the last two years. (Reporting by Marcela Ayres; Editing by Chris Reese; Writing by Alonso Soto)

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