Brazil's central bank announced a 50 basis point interest rate hike to 13.75 percent


2022-08-04: [Chinese Article Link]  On August 3, in São Paulo, the Central Bank of Brazil’s Monetary Policy Committee (Copom) announced an increase of 50 basis points on the evening of 3 local time, raising the country’s benchmark rate from the current 13.25 per cent to 13.75 per cent. Between August 2020 and March 2021, Brazil maintained its benchmark interest rate at a record low of 2 per cent. Since March 17, 2021, the Central Bank of Brazil has started a new cycle of interest hikes. After 11 consecutive interest hikes, the Central Bank of Brazil raised its base rate from 12.75 per cent to 13.25 per cent at its last summit on 15 June 2022. The Monetary Policy Committee of the Central Bank of Brazil indicated on 3rd that it would assess, at its next session, the need for a new, lower-intensity adjustment to the base rate, suggesting that there might be a further small increase in interest rates. However, most analysts in Brazil’s financial markets believe that, with this increase in interest rates, the cycle of interest-raising in Brazil will end, and that Brazil will maintain its benchmark rate of 13.75% until next May. By the end of next year, the country’s benchmark rate will be down to 11%. It is known that the Central Bank of Brazil meets every 45 days to adjust the base rate of interest in order to keep inflation within the range of management objectives. The Brazilian National Monetary Council (CMN) set a median inflation rate management target of 3.5 per cent for 2022, allowing it to float by 1.5 percentage points. According to data published by the Brazilian National Institute of Geography and Statistics (IBGE), inflation in Brazil in June of this year was 0.67 per cent, up from 0.47 per cent last month, a cumulative increase of 11.89 per cent over the past 12 months. Reporter, Ma Sung-hoon.


Note: This is a machine translated version of the Chinese news media article. A mature and nuanced reading is suggested.




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Brazil's central bank announced a 50 basis point interest rate hike to 13.75 percent


2022-08-04: [Article Link]  On August 3, in São Paulo, the Central Bank of Brazil’s Monetary Policy Committee (Copom) announced an increase of 50 basis points on the evening of 3 local time, raising the country’s benchmark rate from the current 13.25 per cent to 13.75 per cent. Between August 2020 and March 2021, Brazil maintained its benchmark interest rate at a record low of 2 per cent. Since March 17, 2021, the Central Bank of Brazil has started a new cycle of interest hikes. After 11 consecutive interest hikes, the Central Bank of Brazil raised its base rate from 12.75 per cent to 13.25 per cent at its last summit on 15 June 2022. The Monetary Policy Committee of the Central Bank of Brazil indicated on 3rd that it would assess, at its next session, the need for a new, lower-intensity adjustment to the base rate, suggesting that there might be a further small increase in interest rates. However, most analysts in Brazil’s financial markets believe that, with this increase in interest rates, the cycle of interest-raising in Brazil will end, and that Brazil will maintain its benchmark rate of 13.75% until next May. By the end of next year, the country’s benchmark rate will be down to 11%. It is known that the Central Bank of Brazil meets every 45 days to adjust the base rate of interest in order to keep inflation within the range of management objectives. The Brazilian National Monetary Council (CMN) set a median inflation rate management target of 3.5 per cent for 2022, allowing it to float by 1.5 percentage points. According to data published by the Brazilian National Institute of Geography and Statistics (IBGE), inflation in Brazil in June of this year was 0.67 per cent, up from 0.47 per cent last month, a cumulative increase of 11.89 per cent over the past 12 months. Reporter, Ma Sung-hoon.

Note: This is a translated version of the Chinese news media article. A mature and nuanced reading is suggested.

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