Central Bank decides for strong increase in Selic to 2,75%

The Central Bank (BC) raised on Wednesday (17) the basic interest rate to 2.75% (+0.75 percentage points) and indicated that it may opt for a similar increase in its next meeting, to contain inflation, which is rising sharply due to the weakening economy caused by the sanitary crisis. The increase is the first in almost six years and surpassed the average market estimate of 0.5 percentage point, taking the Selic from the historic low of 2%, where it had remained since August 2020.

Source: UOL Economia