BRASILIA, Sept 23 (AFP): Brazil's central bank raised its benchmark interest rate by one point Wednesday to 6.25 per cent in an attempt to curb runaway inflation in a country struggling to recover from the coronavirus pandemic.
The move, which was unanimously agreed upon by the bank's Monetary Policy Committee, was in line with analysts' expectations.
This is the fifth straight hike of the year, which was at a historical low of two per cent at the start of 2021.
The central bank said in a statement that another increase "of the same magnitude" is planned for its next meeting, set for October 27, because inflation remains high.
Brazil central bank raises interest rate by one point
FE Team | Published: September 23, 2021 21:55:05
Brazil central bank raises interest rate by one point
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