In recent days, the national economy has undergone intense changes. The basic interest rate (Selic) has suffered another cut, now going from 4.5% to 4.25% per year for Juiz de Fora residents.
Since the dollar soared and reached R$ 4.37 on Thursday, the highest price ever recorded. Both situations directly impact the lives and pockets of Juiz de Fora residents. southeast.
While low interest rates make credit more accessible, they also reduce the profitability of investments, such as savings accounts.
Price hikes
The rise in the dollar has the responsible purpose of triggering an increase in consumer prices, which can be felt in food, transport, health and tourism.
It is essential that this economic scenario is maintained over the next few months, and it is essential to understand it in order to make the best decisions regarding money.
The reduction in the Selic rate was defined during the first meeting of the Monetary Policy Committee (Copom) in 2020, on February 5th.
In effect, the drop in the Selic rate directly influences other interest rates, such as special checks, credit cards and loans.
Therefore, when it reduces, credit becomes cheaper. In return, it becomes less attractive to foreign investors in the country.
Therefore, the dollar becomes scarcer and, consequently, more expensive.
In addition to the expected effect of the interest rate cut, there are also other factors that contributed to the rise in the US currency.
Now, at an international level, the increase in cases of coronavirus infection has intensified the climate of insecurity among investors.
At the national level, the dollar reacted to the controversial speech by the Minister of Economy, Paulo Guedes, on the subject during an event in Brasília, last Wednesday, the 12th.
“The exchange rate is not nervous, it has changed. There is no such thing as an exchange rate of R$ 1.80. Everyone is going to Disneyland, maids are going to Disneyland, one hell of a party.”
Savings
There is no doubt that the repercussions of the current economic changes are being felt by the people of Juiz de Fora. Those who have money invested in savings have seen their financial returns decrease significantly.
In other words, the economy is still weakened in many ways. Many people are over-indebted, unemployment is high and there is a lot of uncertainty.
This scenario requires, more than ever, financial control. Anyone who has some money saved can seek information on investments with higher profitability compared to savings.