Brazil delivers another 100bp hike
BCB’s battle against inflation continues as government announces more fiscally expansionary measures
The Central Bank of Brazil (BCB) on March 19 raised its policy rate by 100 basis points to 14.25% in a unanimous decision, as inflation in the country shows no signs of slowing.
In a statement, the monetary policy committee, known as Copom, said economic activity and the labour market had been exhibiting strength, though there had also been signs of “an incipient moderation in growth”.
Copom noted that both the headline and underlying rates of inflation remained above the central bank’s 3% target
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