In response to robust economic activity fueling inflation, Brazil’s central bank has increased its key interest rate by a quarter-point. The benchmark Selic rate now stands at 15%, following a unanimous decision by central bankers led by Gabriel Galipolo. This move aligns with the expectations of 12 out of 32 economists surveyed by Bloomberg, while the remaining 20 anticipated the rate to remain at 14.75%.\nThe central bank indicated that borrowing costs are likely to stay steady for an extended period as officials assess the effects of stringent policies on inflation and economic activity. This strategic adjustment reflects the ongoing efforts to balance economic growth with inflation control.\n— new from Bloomberg
