Brazil’s central bank raised its key interest rate for a sixth time, extending the world’s biggest tightening cycle as a weaker currency and widening budget deficit spur inflation pressures.
The bank’s board, led by President Alexandre Tombini, voted 8-0 to raise the Selic today to 10 percent from 9.5 percent, as forecast by 50 of the 52 economists surveyed by Bloomberg. Two analysts predicted a 25 basis-point increase.
