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Brazilian Real Extends Gains After ‘Sharp’ Rate Hike Pledge

  • Officials deliver 75bps hike, signal same-size move in June
  • Energy prices have pushed inflation above the target ceiling
Food Distribution At Heliopolis Favela As Nearly Half Of Population Faces Food Insecurity
Photographer: Jonne Roriz/Bloomberg
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The Brazilian real advanced after the central bank lifted its benchmark rate by 75 basis points and promised another hike of the same size next month in a renewed push to bring inflation back to target.