Brazil’s MPC continues hikes, but slows pace

Central Bank of Brazil
Central Bank of Brazil

The Central Bank of Brazil continued its 15-month tightening cycle on June 15 with a 50 basis point increase in the Selic reference rate to 13.25%.

The CBB monetary policy committee’s unanimous decision is its eleventh consecutive increase, but also the smallest hike in the cycle so far.

The MPC said that “given its inflation projections and the risk of a de-anchoring of long-term expectations”, it would likely continue to push the Selic rate higher. “It is appropriate to continue advancing in

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