Brazilian MPC tightens rates again despite sluggish growth
MPC “foresees another adjustment of the same magnitude” at next meeting
The Central Bank of Brazil’s (BCB) board tightened monetary policy again and said further rate rises were likely, despite sluggish economic growth.
The board voted unanimously on December 8 for a 150 basis point increase in the Selic policy rate to 9.25%. It began the year at 2%.
The board declared that “price increases were higher than expected, both in the more volatile components and on the items associated with core inflation”. It added that it “foresees another adjustment of the same
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