Brasil's central bank has raised its benchmark interest rate to 14.25%, from 13.25% ...Middle East

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Banco Central do Brasil Monetary Policy Committee (Copom) decision:

1% rate hike to take the SELIC rate to 14.25%, from 13.25% previously

Decision was unanimous.Committee anticipates another adjustment of smaller magnitude in the next meeting.Total magnitude of the tightening cycle will be determined by the firm commitment of reaching the inflation target.Total cycle magnitude will depend on inflation dynamics, expectations and projections, output gap, and balance of risks.Current scenario requires a more contractionary monetary policy.Global environment remains challenging due to the economic policy and outlook in the United States, mainly due to the uncertainty about the trade policy and its effects.Set of indicators on economic activity and labor market has been exhibiting strength, even though we observe signals that suggest an incipient moderation in growth.Headline inflation and measures of underlying inflation remain above the inflation target and have again increased in recent releases.Inflation scenarios remain tilted to the upside. This article was written by Eamonn Sheridan at www.forexlive.com.

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Brasil's central bank has raised its benchmark interest rate to 14.25%, from 13.25% ...Middle East

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