Brazil’s central bank raises interest rate, promises June hike
Al Jazeera
The bank is acting to rein in inflation that has surged above the target ceiling to a four-year high as food and fuel costs jump.
Brazil’s central bank lifted its benchmark interest rate by 75 basis points and promised another hike of the same magnitude in June as it moves to bring inflation forecasts back down to target. The central bank on Wednesday unanimously voted to raise the Selic by 75 basis points to 3.5%, in line with estimates from all 39 economists in a Bloomberg survey and also the guidance given by policy makers at their prior meeting in March.More Related News