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Brazil’s real hits one-year high on hawkish Central Bank minutes

RIO DE JANEIRO, BRAZIL - Brazil's real hit a one-year high as minutes of the Central Bank's recent meeting suggested a more hawkish stance than previously thought.

The real surged nearly 1% to a one-year high of R$4.970, as central bank minutes showed a 100-basis point hike in the benchmark interest rate could be coming at the next meeting to keep inflation in check.

This would be the monetary authority's fourth straight hike and would put rates at 5.25%, their highest since October 2019, well before the Covid-19 pandemic spurred a . . .

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