Economics
Brazil’s Rate Hike Campaign Chokes Economy in Warning to Fed
- Key rate seen in double digits for long as inflation tops 10%
- IPOs are now stalling and some default rates are rising
People stand in line to receive food outside the Biblioteca Parque Estadual in downtown Rio de Janeiro in April 2021.
Photographer: Dado Galdieri/BloombergThis article is for subscribers only.
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Eleven months into Brazil’s breakneck cycle of interest-rate hikes, the economic damage is piling up.