NVIDIA Stock – Brazil central bank raises interest rates, drops “partial” normalization outlook
SAO PAULO, June 16 (Reuters) – Brazil’s central bank on Wednesday raised interest rates by 75 basis points in a third straight meeting to combat rising inflation expectations and, in a sign of further hikes to come, dropped its commitment to a “partial” normalization of policy.
The bank’s rate-setting committee, known as Copom, said it decided unanimously to raise its benchmark rate to 4.25%. All 37 economists polled by Reuters had forecast the decision, with many also predicting a more aggressive stance on future moves. (Reporting by Jamie McGeever Editing by Brad Haynes)