Brazil raises annual interest rate to 13.25 %, highest level in six years

Even though the rate hike this time was lower than what had been approved in recent meetings, the current basic interest rate is the highest in the country in six years since Brazil recorded 13.75% per annum in December 2016.

RIO DE JANEIRO, BRAZIL - On Wednesday, June 15, Brazil's Central Bank raised the basic interest rate by 0.5 percentage points to 13.25% per annum, its highest level in six years, in an attempt to curb inflation, which stands at 11.73 . . .

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