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Market Update: Brazil Hikes Interest Rate to 4.25%
Brazil’s central bank on Wednesday announced its third interest rate hike in 2021, a 75-basis point increase to 4.25% and anticipated a similar rise in August to mitigate the spread of current temporary shocks to inflation. Copom noted that, despite the intensity of the second wave of the pandemic, recent economic indicators showed a stronger-than-expected development. The Committee also emphasizes that its view for the next meeting will continue to depend on the evolution of economic activity, the balance of risks, and inflation projections and expectations. source: Banco Central do Brasil [/s2If]
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