What does COPOM Stand for

Monetary policy Committee

Copom is the acronym of monetary policy Committee. Was created in June 1996, is a part of the Central Bank of Brazil that aims indirectly control of inflation. His responsibility is the definition of the basic interest rate, the Selic rate. Part of Copom the eight members of the senior executives of the Central Bank, including its President. Some members of other sectors also participate in the discussions, as the publicist.

The monetary policy Committee had the inspiration models already adopted by the central banks of the United States and Germany. In addition, the Central Bank of England and the European also established its Committee. This practice has the benefit of decisions, and improving communication and transparency with society.

Since 2006, ordinary meetings of the Copom happen eight times a year. The dates of these meetings are published in the previous year, until October. All information of the meetings and decisions are published by the Central Bank on its Web site. The Committee is also responsible for disseminating every quarter the “Inflation report”, which contains information about the national financial and economic situation. The report is published in two languages, Portuguese and English.