Central bank expects loan growth slowdown in H2

Monday, May 30, 2011

Brazil's financial system should see loan growth slow down in the second half of the year, local news agency Agência Estado reported central bank BCB's head of economic studies, Tulio Maciel, as saying.

Lending expanded at 21.0% in the 12 months through April, compared to 20.7% in the 12 months through March, despite measures taken by the government and BCB to cool down lending as part of their fight against inflation.

Maciel said that last year the loan market grew very strongly in the first half, and then slowed down in the second half as the economy started to expand at a slower pace. He predicted the same would happen this year.

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