Brazil Central Bank blames prices for rates hike

BRAZIL - Brazil's Central Bank raised interest rates in May for the third consecutive month to head off inflationary pressures and the potential impact of the country's energy crisis on consumer prices, according to the minutes of the May meeting of the bank's monetary policy committee.

On 23 May the committee, Copom, raised the bank's benchmark Selic lending rate to 16.75 percent from 16.25 percent, in line with analysts' expectations.

The minutes of the May Copom meeting, released on 31 May,

To continue reading...