Credit lending in Brazil hit $3.2 trillion reais in November, up 1.1% year over year and to bring the rolling 12-month growth rate to 4.4%, central bank data showed.

The credit market continued to expand during the month, albeit at a slower pace as compared to October's 3.6% growth rate, according to a monthly monetary and credit report from Banco Central do Brasil.

Household credit rose 1.4% to 1.8 trillion reais, while corporate credit edged up 0.8% to 1.4 trillion reais. Both personal and family loans continued to show steady growth over the year, the central bank noted.

Earlier in December, Brazil's central bank voted unanimously to maintain its key monetary policy rate, known as Selic, at a historically low 6.5%, amid sluggish GDP growth and at-target inflation growth.

As of Dec. 27, US$1 was equivalent to 3.90 Brazilian reais.