The Brazilian Central Bank rose again the basic interest rate of the economy, the so-called Selic rate. By unanimous decision, the directors comprising the Monetary Policy Committee decided to raise 0.5 percent rate, which will now be 9% per year. The rate hike comes amid intense pressure that inflation still exerts on the income of Brazilians.
This was the fourth consecutive increase in the Selic year. Since April, the rate has risen from 7.25% per annum, the lowest historical level, to 9%. Until the end of the year, however, the Selic rate will reach 10%, as envisaged in the yield curve.