Central Banks
Brazil Lifts Rates to Highest Since 2016, Cues Smaller Hike
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Brazil’s central bank raised its key rate by a full percentage point for the third meeting and cued a smaller hike at its next gathering as policymakers weigh resilient inflation and signs of an economic slowdown.
Policymakers led by Gabriel Galipolo lifted the benchmark Selic to 14.25% late on Wednesday, the highest level since October 2016. The central bank has now tightened by 3.75 percentage points over its last five decisions.