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Brazil’s basic interest rate: How the SELIC hike affects household budgets

RIO DE JANEIRO, BRAZIL - COPOM has decided to increase the SELIC rate by 1.5 percentage points, raising it from 7.75% to 9.25% per year. The measure is intended to control inflation, which in the past 12 months has reached 10.67%, according to the Extended Consumer Price Index (IPCA) for October.

The seventh consecutive hike raises the indicator to its highest level in just over 4 years . . .

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