RIO DE JANEIRO, BRAZIL - Brazil’s Central Bank discussed raising interest rates last week by more than 75 basis points, minutes from its last policy meeting showed on Tuesday, raising the chances of a more aggressive hike at its next meeting to keep inflation in check.
The minutes of the June 15-16 meeting, where the bank’s rate-setting committee known as Copom raised the SELIC rate to 4.25%, showed policymakers believe a full normalization of policy is now appropriate, shifting up a gear from a more cautious “partial” approach in recent meetings.
With inflationary pressures “more intense . . .