Central Bank of Brazil raises rates for fifth time in row

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The Central Bank of Brazil has re-enforced its commitment to rein in inflation by raising interest rates for a fifth consecutive time.

In a unanimous and widely expected decision, the bank's monetary policy committee voted to increase Brazil's benchmark Selic rate by 50 basis points to 9.5% – 2.25 percentage points higher than in April, when the bank's inflation-combating campaign was launched.

The Central Bank of Brazil has been fighting a two-front war in recent months, trying to curb price pr

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