Brazil Lifts Selic to 9.5% from 9% in World's Longest Streak

Brazil’s central bank raised its main interest rate for a fifth straight time, the longest stretch of increases in the world, as the weakening real hampers efforts to slow inflation.

The bank’s board, led by President Alexandre Tombini, voted unanimously to raise the benchmark Selic to 9.5 percent from 9 percent, as forecast by all 49 economists surveyed by Bloomberg. Policy makers, repeating language used in their August decision, said the increase will ensure slower inflation next year. They have raised borrowing costs by 225 basis points, or 2.25 percentage points, since April.