The Central Bank of Brazil on Wednesday hiked its reserve requirement ratio by 200 basis points, taking it back to the pre-crisis level of 15%.
The move follows the lead of fellow emerging market economy China, which has so far implemented two 50 basis point hikes to the percentage of deposits banks are required to hold in reserve.
Radjalma Costa, a senior adviser in the central bank's department of banking operations, told CentralBanking.com that Wednesday's move was intended to continue the re
- Trump criticises Fed over rate rises and threatens higher tariffs
- Implementation of new Sofr rate is “ahead of schedule”, says Fed vice-chair
- Central bank digital currency a ‘terrible idea’, US Congress told
- MAS strengthens use of data to combat financial crimes
- RBA paper modifies DGSE to include housing sector