MercoPress. South Atlantic News Agency

Brazilian Central Bank raises interest rate to its highest in nine years, 14.25%

The Brazilian Central Bank Copom (Monetary Policy Committee) raised the benchmark interest rate (Selic) by one full percentage point on Wednesday, from 13.25% to 14.25%, the highest since 2016, the level reached during the political crisis that ousted then president of Dilma Rousseff’s (PT) government. Read full article