RIO DE JANEIRO, BRAZIL - With rising inflation, the financial market expects that the basic interest rate will rise by 1.5 percentage points to 9.25% per year.
The current cycle of the SELIC rate hike began in March this year, when the rate rose from 2% to 2.75% per year.
The benchmark interest rate is used in the negotiation of government bonds issued by the Federal Treasury in the Special System for Settlement and Custody (SELIC) and is used as a reference for other rates in the economy. It is the Central Bank's main tool for keeping . . .