Brazil again raises rates by 100bp
BCB signals further rises amid persistently high inflation and lingering concerns over public finances
The Central Bank of Brazil (BCB) on January 29 delivered another increase of 100 basis points in a unanimous decision, thus bringing its policy rate to 13.25%.
In a statement, the monetary policy committee, known as Copom, said inflation had been fluctuating above target, while economic activity and the labour market had been exhibiting strength.
Year-on-year headline inflation was 4.83% in December 2024, down slightly from 4.87% the previous month but still significantly higher than the BCB’s 3%
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