April 29, 2015
By CentralBankNews.info
Brazil’s central bank raised its benchmark Selic rate by a further 50 basis points to 13.25 percent, saying in a brief statement that the decision was based on an evaluation of the macroeconomic scenario and the outlook for inflation.
The Central Bank of Brazil has now raised its policy rate by 150 basis points this year and by 600 points since embarking on a tightening cycle in April 2013 to force inflation back to the bank’s target range of 4.5 percent, plus/minus 2 percentage points.
The decision by the central bank’s monetary policy committee, known as Copom, was unanimous and no bias was indicated.
