End of preview - This article contains approximately 134 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options
Back
LatinNews Daily - 17 March 2022
In brief: Brazil’s central bank raises interest rates, cites war
* The monetary policy committee (Copom) in Brazil’s central bank (BCB) has unanimously decided to raise the benchmark interest rate, the Selic, by one percentage point to 11.75%. This is the Copom’s ninth consecutive rate hike, and raises the Selic to the highest point in five years. The Copom cited the “substantial deterioration” of the external scenario with the war between Russia and Ukraine, with related concerns around higher inflation. The Copom now sees inflation closing the year at 7.1% in its reference scenario (up from 5.4% previously), with the Selic at 12.75% at year’s end. The BCB had been expected to start easing its tight monetary policy in the second half of this year, but the war has now pushed the prospect of rates starting to decrease back to 2023.
- HONDURAS: Judge rules in favour of extraditing Hernández
- ECUADOR: Anger at Lasso’s partial veto of abortion bill
- In brief: Petro’s pension reform proposal under fire in Colombia
- BRAZIL: Alckmin rejects corruption allegations
- In brief: Brazil’s central bank raises interest rates, cites war
- In brief: Guatemala’s gov’t announces launch of investment projects
- MEXICO: PRI says energy reform is “unviable”
- In brief: World Bank warns Mexico must boost productivity
- PARAGUAY: Government cuts fuel prices in attempt to defuse protests
- In brief: E-commerce surges in Argentina