Markets

Brazil's central bank raises interest rate to 3.5%

  • The decision, which was unanimous, was in line with analyst expectations.
Published May 6, 2021

BRASÍLIA: Brazil's central bank on Wednesday raised its benchmark interest rate for the second time in a row by another 75 basis points to 3.5 percent as it tries to curb inflation, in an economy that has been hit hard by the coronavirus pandemic.

The decision, which was unanimous, was in line with analyst expectations.

The last hike, in March, was the first in six years for Latin America's biggest economy.

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