{"id":39925,"date":"2013-07-10T21:25:44","date_gmt":"2013-07-11T01:25:44","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=39925"},"modified":"2013-07-10T21:25:44","modified_gmt":"2013-07-11T01:25:44","slug":"brazil-raises-rate-for-third-time-this-year-to-8-50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2013\/07\/10\/brazil-raises-rate-for-third-time-this-year-to-8-50\/","title":{"rendered":"Brazil raises rate for third time this year to 8.50 %"},"content":{"rendered":"<p>By <a href=\"http:\/\/www.centralbanknews.info\/\"><u>www.CentralBankNews.info<\/u><\/a> &nbsp; &nbsp; Brazil&#8217;s central bank raised its benchmark Selic rate by another 50 basis points to 8.50 percent, as expected, to help bring inflation under control.<br \/>&nbsp; &nbsp; It is the third consecutive rate rise by the Central Bank of Brazil, which has now raised rates by a total of 125 basis points this year. Last year the central bank cut rates by 375 basis points as economic growth fell.<br \/>&nbsp; &nbsp; The decision by the central bank&#8217;s monetary committee, known as Copom, was unanimous and the decision was not accompanied by a bias toward its next move.<br \/>&nbsp; &nbsp; &#8220;The Committee considers that this decision will contribute to bringing inflation toward a decline and ensure that this trend will continue next year,&#8221;the central bank said in a brief statement.<br \/>&nbsp; &nbsp; Brazil&#8217;s inflation rate rose to 6.7 percent in June from 6.5 percent, above the central bank&#8217;s target of 4.5 percent, plus\/minus two percentage points.<br \/>&nbsp; &nbsp; The central bank has forecast inflation of 5.7 percent this year and 5.3 percent in 2014.<br \/>&nbsp; &nbsp; Brazil&#8217;s Gross Domestic Product rose by only 0.6 percent in the first quarter from the fourth quarter for annual growth of 1.9 percent, up from 1.4 percent in the previous quarter.<\/p>\n<p>&nbsp; &nbsp; <a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><br \/>&nbsp; &nbsp;<\/p>\n<p>  <!--EndFragment--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By www.CentralBankNews.info &nbsp; &nbsp; Brazil&#8217;s central bank raised its benchmark Selic rate by another 50 basis points to 8.50 percent, as expected, to help bring inflation under control.&nbsp; &nbsp; It is the third consecutive rate rise by the Central Bank of Brazil, which has now raised rates by a total of 125 basis points this &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/forex-news\/2013\/07\/10\/brazil-raises-rate-for-third-time-this-year-to-8-50\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Brazil raises rate for third time this year to 8.50 %&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-39925","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/39925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=39925"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/39925\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=39925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=39925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=39925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}