Economics
Brazil Central Bank Says Rate Hikes Can End Soon If Shocks Wane
- Policy makers see oil at $100/barrel as likely at year’s end
- Central bankers raised key interest rate to 11.75% last week
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Brazil’s central bank signaled plans to end one of the world’s most aggressive cycles of interest rate increases at its next meeting in May as long as commodity prices remain relatively steady.
Policy makers reiterated plans for another rate hike of one percentage point at their next decision, according to the minutes of the March 15-16 meeting published Tuesday. Bank board members pointed out that they opted for timelier borrowing cost rises amid high inflation and uncertainty.