Brazil’s central bank raised interest rates by 100 basis points for the third straight time,bringing the Selic rate to 14.25%. The bank plans smaller hikes in the future as it evaluates economic slowdown indicators.
On Wednesday, Brazil’s central bank implemented a 100 basis point increase in interest rates for the third consecutive time, adhering to its prior guidance. This decision was made as the bank’s rate-setting committee, known as Copom, aims to observe indications of an economic slowdown. With this adjustment, the Selic rate has risen to 14.25%, the highest it has been since 2016, reflecting a unanimous agreement among all 37 economists surveyed by Reuters.
In summary, Brazil’s central bank raised interest rates by 100 basis points on Wednesday, maintaining its previous stance while indicating a smaller potential hike in forthcoming meetings to assess economic conditions. The Selic rate is now at 14.25%, the highest level recorded since 2016, showcasing the bank’s commitment to managing inflation amid economic uncertainties.
Original Source: www.tradingview.com
