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Brazil credit remains strong as interest rates fall

August 29, 2018 by

Total lending in the Brazilian financial system remained strong in July as average interest rates continued to decline, the Central Bank said Wednesday. Total lending was R$3.1 trillion, down slightly from June on seasonal factors but up 2.4% from July of 2017. Interest rates averaged 20.9%, down from 21.1% in June and 23.2% in July of 2017. Continued interest rates declines have been promoted by the Central Bank in a largely successful effort to maintain consumption levels and help Brazil recover from a long recession.

Link to Central Bank release

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