May 6, 2021
Copom, the monetary policy committee at Brazil's central bank, said Wednesday that it plans to increase the Selic benchmark interest rate by another 75 basis points to 4.25% in June as it tries to bring inflation within the target range.
The committee voted unanimously to increase the Selic by 75 basis points to 3.5%, the second increase this year, after consumer prices rose 6.17% for the past 12 months through mid-April. Copom now expects inflation to reach 8.4% in 2021 before it slows to 5% in
Copom expects to increase the Selic to 4.25% as it tries to get inflation under control