* The monetary policy committee (Copom) of Brazil’s central bank (BCB) has raised the benchmark interest rate (Selic) by 75 basis points to 3.5%, the second consecutive sharp rate hike. The increase in the Selic had been widely expected, and the Copom indicated that another 75 basis-point hike is likely when it next meets in June, in a bid to keep
inflation under control. Brazil’s annual
inflation rate stood at 6.1% in March, well above the BCB’s 3.75% target. The Copom has said it is working with a baseline scenario of 5.1%
inflation this year.
End of preview - This article contains approximately 98 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options