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Credit in Brazil rises despite restriction measures
Last Updated(Beijing Time):2011-03-30 13:33
Brazil's credit volume in February increased 21 percent year on year despite recent credit restrictions by the government, the central bank said Tuesday.

The lending volume in Brazil reached 1.73 trillion reais (1.04 trillion U.S. dollars), which represents 46.5 percent of the country's gross domestic product, according to the bank.

The central bank has taken measures in the past few months to curb expanding credit and contain Brazil's inflation rate, which has reached 6 percent.

Meanwhile, the central bank also reported that the Brazilian average interest rate in credit operations rose to 38.1 percent in February, up from 34.4 percent during the same period last year.

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