• Brazilian Central

  Filed under News
  Sep 14

  This escape for the gold was preoccupying, therefore it denoted clearly the reliable crisis in the banking system and the confidence of the agents in the economy. The quotation of the assets was so uncertain that the investors if they had taken refuge in the gold, asset whose main function is to assure the value reserve. In this context, the Brazilian Central banking took measured important by reduction of the obligatory one, guaranteeing a bigger irrigation in the financial system. The action of the government was sufficiently fast, even so has privileged the detainers of liquidity in the system. The basic taxes of interests (the SELIC) that they were in a platform very raised they had been reduced in 300 base points.

  Although the flexibilizao monetary promoted for the Brazilian Central banking it has served only for what I call dictatorship of the liquidity detainers took body. The event of bigger banks buying lesser banks in the basin of the souls (Ita-Unibanco, BB-Votorantim, for example) was emblematic. The banks of bigger transport that are seen by the investors as of lesser risk, they had received most from the resources of the economizers. Moreover, the companies and customers at a first moment had been awardees for the afrouxamento of the taxes of collect in the obligatory one without placing these resources in the credit. However, the Government adopted one politics against cyclical for the responsible performance in the distribution of the resources between surplus and deficit in the market, it saw reduction significant of tax SELIC, for the improvement in the conditions of financing for small the average companies, for the guarantee of deposits in the commercial banks, saw Central banking, already mentioned and for a distribution more equnime of the liquidity in the stock market premiando the ones that assumed risks. Brazil due to the bond that received with the growth world-wide when accumulating international reserves, due to the increase in the amounts and the prices of commodities, daily pay-burst of the bubble, had a formidable relative position to allow a great start and took off all advantage of this crisis.

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