Reported 18 days ago
Brazil's central bank has increased its key interest rate by half a percentage point, marking a rapid acceleration in its tightening measures due to rising inflation and a challenging fiscal outlook. The Selic rate has been raised to 11.25%, with policymakers highlighting the need for spending cuts and fiscal reforms to stabilize inflation expectations. The move comes amidst concerns over the resilience of the economy and the impact of a severe drought on food and energy prices.
Source: YAHOO