Central Bank of Brazil takes main rate to 12.75%
Committee signals it is likely to continue increasing rates at its next policy meeting in June
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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