Brazil continues rate hikes

Brazil continues rate hikes

Economy & Policy

Brazil’s central bank met analysts’ expectations for a 25bp nudge upwards in the benchmark Selic rate in yesterday’s monetary policy committee meeting. The rate now stands at 11%, up from 10.75% in the previous month, when the Copom slowed the pace of hikes to 25bp from 50bp in each of its previous six meetings. Goldman Sachs said the tone of the central bank’s statement yesterday hinted that Copom would likely keep the rate steady at its next meeting. “We are of the view while the May decision

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