June 29, 2017 / 9:38 PM / a year ago

Brazil's main policy body holds BNDES key interest rate unchanged

BRASILIA, June 29 (Reuters) - Brazil’s National Monetary Council (CMN) kept the interest rate at which state development bank BNDES pegs its loans unchanged at 7 percent per year after a meeting on Thursday, the Finance Ministry said.

The CMN, Brazil’s highest economic body comprised of the finance and planning ministers and central bank president, said the TJLP rate will remain at 7 percent during the third quarter. The rate was cut by 0.5 percentage point in March, the first reduction since December 2012. (Reporting by Marcela Ayres; writing by Marcelo Teixeira, editing by G Crosse)

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