Central Bank of Brazil raised its base rate


September 23, Fineko/abc.az. The Monetary Policy Committee of the Central Bank of Brazil (Copom) decided to raise the base rate up to 6.25%, and inflation in 2021 is projected at 8.5%.

"Copom unanimously decided to raise the base interest rate by 1 percentage point, to 6.25% per annum," the Central Bank of Brazil said in a statement.

According to the Central Bank of Brazil, this decision reflects the baseline scenario and the risk of a stronger than usual deviation of the expected inflation, it meets the goal of achieving inflation targets on the horizon, which includes the calendar year 2022 and, to a lesser extent, the calendar year 2023.