Central Banking

Brazil hikes interest rate 50 bp to 16.25 pct

BRAZIL - Brazil's Central Bank on Apr 18 said it was hiking its key Selic lending rate for the second month running to 16.25 percent from 15.75 percent, due to expected inflation pressures from a weakening currency. The move was expected despite a surprise U.S. rate cut earlier on Apr 18.

The Selic was raised "in order to consolidate the movement started in March of realigning inflation in accordance with established inflation targets," a Central Bank spokesman said late on Apr 18 following t