Brazil Central Bank Aggressively Raises Rates for Twelfth Consecutive Time, another 50bp to 13.75%, Signals More to Come

Banco Central do Brasil​ again aggressively hiked its benchmark interest rate by .50% to 13.75%. It was the twelth consecutive interest rate hike since 2021 when the bank began its current tightening cycle early last year, the Selic was at a record low 2%. Brazil’s annual inflation stood at 11.39% in mid-July. The lending rate is now at its highest level since 2017. The bank’s monetary policy committee (Copom) said it expects to raise the Selic signaled in September again. … Continue reading “Brazil Central Bank Aggressively Raises Rates for Twelfth Consecutive Time, another 50bp to 13.75%, Signals More to Come”

Brazil Central Bank Aggressively Raises Rates for Eleventh Consecutive Time, another 50bp to 13.25%, Signals More to Come

Banco Central do Brasil​ again aggressively hiked its benchmark interest rate by .50% to 13.275%. It was the tenth consecutive interest rate hike since 2021 when the bank began its current tightening cycle early last year, the Selic was at a record low 2%. The impact is being felt, last week, Brazil’s 12-month inflation rate declined for the first time in 2022 in May, and retail sales increased in April at the slowest pace so far this year. The lending … Continue reading “Brazil Central Bank Aggressively Raises Rates for Eleventh Consecutive Time, another 50bp to 13.25%, Signals More to Come”

Brazil Central Bank Aggressively Raises Rates For Tenth Consecutive Time, Another 100bp to 12.75%, Signals More To Come

Banco Central do Brasil​ again aggressively hiked its benchmark interest rate by 1.0% to 12.75%. It was the tenth consecutive interest rate hike since 2021 when the bank began its current tightening cycle early last year, the Selic was at a record low 2%. The lending rate is now at its highest level since 2017. The bank’s monetary policy committee (Copom) said it expects to raise the Selic by a smaller magnitude. Inflation is the issue of concern. The institution’s … Continue reading “Brazil Central Bank Aggressively Raises Rates For Tenth Consecutive Time, Another 100bp to 12.75%, Signals More To Come”

Brazil Central Bank Continues to Raise Rates Aggressively, Another 100bp to 11.75%, Signals More To Come

Banco Central do Brasil​ again aggressively hiked its benchmark interest rate by 1.0% to 1`1.75%. It was the ninth consecutive interest rate hike since 2021 since the bank began its current tightening cycle early last year, when the Selic was at a record low 2%. The lending rate is now at its highest level since 2017. The bank’s monetary policy committee (Copom) said it expects to raise the Selic by the same amount at its next meeting. Inflation is the … Continue reading “Brazil Central Bank Continues to Raise Rates Aggressively, Another 100bp to 11.75%, Signals More To Come”

Brazil Central Bank Continues to Raise Rates Aggressively, Another 150bp to 10.75% in February

Banco Central do Brasil​ again aggressively hiked its benchmark interest rate by 1.5% to 10.75%. It was the eighth consecutive interest rate hike since 2021 and policymakers Inflation expectations for 2022 and 2023 collected by the Focus survey are around 5.4%, and 3.5%.  Last meeting the Brazilian Central Bank raised 150bp to 9.25% saying the underlying inflation is above the range compatible with meeting the inflation target. Highlights Global outlook environment remains less favorable.  More persistent inflation increases the chances … Continue reading “Brazil Central Bank Continues to Raise Rates Aggressively, Another 150bp to 10.75% in February”