Credit fell 1pc in January

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    The balance of credit operations of the Brazilian financial system contracted 1% in January, to R $ 3.074 trillion, in relation to December. In comparison with the same month last year, the drop was 3.9%. 2016 was the worst year for the credit market since the adoption of the Real Plan in 1994. By 2017, the Central Bank (BC) estimates that credit will increase 2%.
    The average interest rate charged by the financial system on its credit operations increased 0.8 percentage point in January, rising from 32% in December to 32.8%. The average default of credit operations in the financial system was stable in January, in 3.7%, In 2016, despite the economic slowdown and rising interest rates, the default rate rose only.

    Monetary Policy and Financial System Credit Operations data released – January 2017. Tables in English are available at the Central Banks site: