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Brazil central bank boosts benchmark interest rate to 13.25%

Published 29/01/2025, 22:54
Brazil central bank boosts benchmark interest rate to 13.25%
US Dollar Brazil Real
0.31%
IBRX
-0.24%

Investing.com -- Brazil’s central bank has increased the Selic benchmark interest rate to 13.25%, aligning with the median forecast from analysts.

This move is part of a series of planned rate hikes, with the Selic rate expected to reach 15% by the end of this year.

Inflation in Brazil is predicted to speed up, despite the rate increases.

Analysts forecast that by the end of 2025, inflation will be at 5.5%, remaining above the central bank’s target of 3% until 2028.

This week’s rate hike marks the first meeting led by Gabriel Galípolo, an economist appointed by Brazil’s leftist president Lula da Silva.

There are concerns among some analysts that Galípolo might reduce rates before inflation stabilizes at the 3% target.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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