Brazil raises policy rate by 25bp in unanimous decision
Central bank defies global easing cycle as domestic inflation remains above target
The Central Bank of Brazil (BCB) has raised its policy rate by 25 basis points in a unanimous decision.
Hours after the US Federal Reserve began its easing cycle, Brazil’s central bank moved in the opposite direction on September 18 and lifted its key Selic rate to 10.75%.
The BCB’s monetary policy committee, known as Copom, said in a policy statement that the domestic economy and labour market had been performing more strongly than expected.
“The scenario, marked by resilient economic activity
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