Central Bank of Brazil Raises Selic Rate to 9%


Central Bank of Brazil decided on August 28th to raise the benchmark interest rate by 50 bps to 9 percent, aiming to fight high inflation.

The Monetary Policy Committee (Copom) increased the selic rate for the fourth consecutive time, arguing that the decision to raise the rate will contribute to set the inflation on a downward trend and ensure that it continues to decline throughout next year. 

In July, annual inflation rate slowed to 6.27 percent, as local governments were forced to revoke increases in public transportation prices, staying just below the central bank's target of 4.5 percent plus or minus two percentage points.

Central Bank of Brazil Raises Selic Rate to 9%


Joana Taborda | joana.taborda@tradingeconomics.com
8/29/2013 10:35:50 AM