MercoPress. South Atlantic News Agency

Brazil: Selic rate upped for the seventh straight time

Despite falling inflation, Brazil's Central Bank (BCB) raised the Selic interest rate on Wednesday by 0.25 percentage points to 15%, its zenith since 2006, citing ongoing economic uncertainty. The unanimous Monetary Policy Committee's (Copom) move surprised local markets, who anticipated it would stay at 14.75%. Read full article