Taxa de juros e a meta do Banco Central
Autor: Economistas Na Net | Publicado: 2012-09-22T10:40:00-03:00


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As taxas
de juros causam muita confusão nos noticiários, principalmente quando há
uma reunião do Copom para decidir a taxa meta do país. Mas afinal, qual a
diferença?



A “meta” é a taxa definida nas
reuniões do Conselho de Política Monetária (Copom) onde são avaliados o
comportamento da economia doméstica e internacional e as expectativas quanto à
reação da atividade e da inflação no curto e médio prazo. A partir daí, o BCB
trabalhará para alcançar esse objetivo por meio de suas ferramentas.



Os instrumentos do Banco Central
são: Recolhimento Compulsório, Redesconto de liquidez e Operações de mercado
aberto.



A taxa de juros, que pode ser
conferida no próprio site do BCB, é a taxa média das operações compromissadas estabelecida
todos os dias (Selic over). Essa movimentação é realizada através de leilões de
títulos, por isso seu valor muda diariamente. O Tesouro Nacional emite os
títulos. Já o BCB baliza a quantidade de títulos que estão no mercado, já que é
de sua responsabilidade o controle dos meios de pagamento.



Dependendo do objetivo, o BCB pode
comprar ou vender mais títulos, ou seja, pode colocar ou tirar a liquidez do
mercado. Ao compararmos a taxa meta e a taxa de juros, veremos que elas são
diferentes, porém serão próximas e terão a mesma tendência.&nbsp;



O que podemos concluir é que a Meta é aquela que o BC usa
para sinalizar ao mercado como os juros deverão se comportar nos próximos
períodos e a Taxa é a que baliza a economia em todas as operações.



Por Danielle Macedo

Equipe Economistas Na Net