Retail Traders Fall After Copom Decision by

Retail Traders Fall After Copom Decision by
© Reuters – With pressure on their most recent balance sheets indicated as a result of higher interest rates, retail companies showed a sharp decline in the trading session this Thursday, the 23rd, following the decision to hold and a tougher tone in the statement from the Monetary Policy Committee (MPC).

At 10:48 am (Brasilia time), the worst decliners in the Brazilian stock index were shares of Via (BVMF :), down 6.03% to R$1.87, and Luiza Magazine (BVMF :), down 8.61%, at 3.29 Brazilian Real.

Other retailers showed a decrease in the value of their shares, such as Americanas (BVMF :), down 2.83%, at R$1.03, Lojas Renner (BVMF :), down 2.70%, at R$16.80, and Grupo Soma (BVMF:), Down 2.19% to 8.03 Brazilian reals. Marisa Lugas (BVMF:) was flat at R$0.65.

Cobum’s decision and tougher statement

After a two-day meeting, Copom decided on Wednesday evening the 22nd to maintain the current level of Selic, which is the benchmark for other interest rates in the Brazilian economy, at 13.75%. However, analysts considered the tone of the statement harsh and emphatic, as Copom strengthened its commitment to anchoring inflation indicators and opened the door to raising interest rates again, if necessary. He pointed out that “the committee affirms that future monetary policy steps can be modified and will not hesitate to resume the adjustment cycle if the process of reducing inflation does not proceed as expected.”

See also  Payment of the thirteenth additional salary in 2021: Find out when the allowance will be received

You May Also Like

About the Author: Camelia Kirk

"Friendly zombie guru. Avid pop culture scholar. Freelance travel geek. Wannabe troublemaker. Coffee specialist."

Leave a Reply

Your email address will not be published. Required fields are marked *