Brazil's central bank raises interest rates, signals more to come

Brazil's central bank on Wednesday raised interest rates by 50 basis points, in line with prevailing market expectations, and signaled another increase coming in the world's most aggressive rate-hiking cycle.

The bank's rate-setting committee, known as Copom, raised its benchmark Selic interest rate to 13.25%, the highest level since the beginning of 2017 and up sharply from a record low of 2% in March 2021.

Source(s): Reuters

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