LatinNews Daily - 16 June 2022

In brief: Brazil’s central bank hikes interest rates again

* The monetary policy committee (Copom) in Brazil’s central bank (BCB) has raised interest rates by 50 basis points. With this latest hike, Brazil’s Selic benchmark interest rate now stands at 13.25%, the highest point in more than five years. The BCB has been pursuing an aggressive monetary tightening policy since last year in a bid to control inflation, which stood at 11.73% in the 12 months to May. The Copom has indicated that it could enact another similar rate hike when it next meets in early August.

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