Central Bank of Brazil

April 29, 2015

As expected, the policymaking committee unanimously agreed to another hike of the Selic interest rate, this time to 13.25% from 12.75%.  It has cumulatively been increased by 150 basis points in 2015, 550 bps since April 2013, and 600 bps since the current tightening cycle began in the spring of 2013.  Brazil’s inflation rate, now up to 8.2%, still hasn’t crested and exceeds the target range ceiling by 1.7 percentage points. 

Copyright 2015, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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