Interest Rates in Brazil Rise to 13.75 Percent

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL - Brazilian Central Bank’s Comitê de Política Monetária - Copom (Monetary Policy Committee) decided unanimously on Wednesday (June 3rd) to increase the country’s benchmark interest rate (Selic) by 0.5 percentage points from 13.25 percent to 13.75 percent per year. This is the sixth consecutive time the Selic has increased.

“Assessing the macroeconomic scenario and the perspectives for inflation, the Copom decided, unanimously, to increase the Selic rate by 0.50 percentage points to 13.75 percent per year, without bias,” said the Copom statement after . . .

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