Brazil lifts rate to 10.25%, meeting expectations
LOS ANGELES (MarketWatch)
Brazilian monetary policy makers late Wednesday voted unanimously to raise the country's key interest rate to 10.25% from 9.5%. The decision met widely held expectations. The bank said in an accompanying statement that it will continue the process of adjusting monetary conditions to ensure the convergence of inflation to its target. The bank started its latest rate-tightening campaign in April by lifting the Selic rate from the historic low of 8.75%. Earlier Wednesday, the country's Census Bureau reported a 0.43% rise in May consumer prices from April, below the Dow Jones Newswires estimate for a rise of 0.46%. Annual inflation now stands at 5.22%, above the central bank's target of 4.5%.
Source: marketwatch.com
LOS ANGELES (MarketWatch)
Brazilian monetary policy makers late Wednesday voted unanimously to raise the country's key interest rate to 10.25% from 9.5%. The decision met widely held expectations. The bank said in an accompanying statement that it will continue the process of adjusting monetary conditions to ensure the convergence of inflation to its target. The bank started its latest rate-tightening campaign in April by lifting the Selic rate from the historic low of 8.75%. Earlier Wednesday, the country's Census Bureau reported a 0.43% rise in May consumer prices from April, below the Dow Jones Newswires estimate for a rise of 0.46%. Annual inflation now stands at 5.22%, above the central bank's target of 4.5%.
Source: marketwatch.com
