Savings Change May Drop Interest Rates

By Ben Tavener, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – The Brazilian government has made changes to the way in which the annual rate of interest is calculated on new deposits to the country’s national savings program. Analysts are explaining the move as a way for Brazil to reduce its benchmark interest rate, the SELIC, to fall in line with comparable economies around the world.

Brazil’s Finance Minister Guido . . .

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