BRASÍLIA (BDCi) – While Brazil’s central bank took steps to stimulate lending, the nation’s outstanding loans in July grew at the slowest annual pace since March 2004.
The central bank keeps lowering capital requirements so as to stimulate lending, saying the new measures will have better success at distributing liquidity.
It was announced earlier this month that the central bank was taking steps to boost lending by some $66 billion, adding that the measures will ease credit restrictions without fueling inflation.
In the past 12 months through July, bank lending has risen 11.4% to $1.2 trillion, while increasing 0.2% from the previous month.