*The monetary policy committee (Copom) of Brazil’s central bank (BCB) has raised the country’s benchmark interest rate (Selic) from 14.75% to 15.00%. This is the seventh consecutive rate hike, although the latest increase of 25 basis points marks a smaller increase than the 50-basis-point increase in May and the three consecutive 100-basis-point hikes in December, January, and March. In the Copom statement released yesterday, the committee hinted at the possibility of ending the rate hike cycle and maintaining the Selic for a “prolonged period”. With this latest rate hike, the Selic has reached its highest level in nearly two decades. The last time that Brazil’s benchmark interest rate was above 15.00% was July 2006.
End of preview - This article contains approximately 117 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options
