Brazil: Central Bank makes 7th consecutive hike to SELIC rate

At its 15 January meeting, the Central Bank’s Monetary Policy Committee (COPOM, Comite de Politica Monetaria) decided to raise the benchmark SELIC interest rate by 50 basis points to 10.50% in a unanimous vote. The increase exceeded market expectations of a rise to 10.25%. The decision to push borrowing rates up further came amid ongoing concerns over inflationary pressures and builds on a series of similar rate hikes in previous months.

Read more about Brazilian Monetary Policy.

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