Day: June 17, 2020

Copom could cut Selic by 0.75 p.p. on Wednesday

Fragile economic data, show that investors should be very attentive to the content of the statement of the decision of the Copom on 17th June 2020. Despite not changing the scenario for this decision, the idea is to observe whether the monetary authority will leave the door open or closed for a further reduction in the basic interest rate. If the reduction of 0.75 p.p. is confirmed, the Selic rate will fall to 2.25% per year.

Caixa releases $567 mm to SME’s

Caixa Econômica Federal starts offering loans to micro and small companies through the National Support Program for Micro and Small Enterprises (Pronampe). The bank will have a budget of R$3 billion to operate the credit.

Itaú extended $8.1 bn and granted $1.9 bn in new credit

Itaú Unibanco has granted R$43 billion ($8.1 bn) in debt extension and R$10.2 billion ($1.9 bn) in new credit to individuals and micro, small and medium-sized companies since April, when it launched a program to overcome the coronavirus crisis. In the individual segment, R$30.5 billion ($5.7 bn) in contracts were extended and R$5.6 billion ($1.1 bn) in new resources were granted to 1.8 million customers.

Gas distributors ask government support of $566 mm

Expectations of record retraction in demand for natural gas in Brazil in 2020 and countless default by energy consumers, amid impacts of the coronavirus pandemic, led industry representatives to ask the government for a package of R$3 billion ($566 mm) in financial aid to the sector