Brazil Hikes Rates as Concerns Grow over Local Markets

Brazil Hikes Rates as Concerns Grow over Local Markets

Brazil Economy & Policy

Brazil’s central bank raised the benchmark Selic rate on Wednesday for the first time since July 2011, amid growing concerns over rising inflation. The bank’s board voted 6 to 2 in favor of a 25 basis point hike to 7.5% from a record low – in line with market expectations. Brazil’s central bank is likely to tighten monetary policy faster than expected to combat resurgent inflation – a move that could stunt the development of local capital markets, experts warned earlier this week at the

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