Central Bank of Brazil takes main rate to 12.75%

Central Bank of Brazil

The Central Bank of Brazil (BCB) increased interest rates by 100 basis points after its policy meeting on May 4, and signalled it would likely make a small increase in June.

The key Selic rate stands now at 12.75%. Since May 2021, the central bank has increased interest rates by 10 percentage points. This has still not prevented inflation from rising further above the institution’s target.

The mid-April inflation reading increased to over 12%, up from 8% in May 2021, according to official

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