Stênio Ribeiro      Reporter Agência Brasil

Brasília – The Monetary Policy Committee (Copom”) at Brazil’s Central Bank, at the end of its fourth meeting this year last night (Wednesday, June 8), announced an increase of twenty-five percentage points in the country’s basic interest rate, known as the Selic, taking it from 12% to 12.25%.

So far this year, Copom has raised interest rates at each of its meetings. The Selic was 10.75% at the end of 2010.

In a short note after the meeting, Copom said that it was moving ahead with “gradual adjustments of monetary conditions… to ensure that 2012 inflation targets are met.” The decision was unanimous.

Allen Bennett – translator/editor The News in English

Link - BC eleva taxa básica de juros para 12,25% ao ano e sinaliza para mais aumentos ao longo do ano