Brazil | Another 50bp hike in the SELIC to rein in 2016 inflation expectations

Summary

The Monetary Policy Committee (COPOM) decided to adjust up the SELIC rate by 50bp, as in its three previous meetings. By maintaining the adjustment pace unchanged in spite of the signs of sharp deceleration in economic activity, the monetary authority tries to convince markets that it will be able to make inflation to converge to 4.5% at the end of 2016.

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