By Lise Alves, Senior Contributing Reporter
SÃO PAULO, BRAZIL – The Brazilian National Monetary Council passed a resolution last week which will direct R$22.5 billion of reserve requirements towards farm and housing credit. The measure, say analysts, will help sectors such as the construction and real estate segments, which have been hit hard by the country’s sluggish economy.
Under the new measure, banks will have to increase their reserve requirements on saving deposits from twenty percent to 24.5 percent to be used towards housing credit. “The aide to housing credit shows that the government has decided . . .