Brazil Slows Pace of Interest Rate Increases to Spare Growth
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Brazil’s central bank halved the pace of key rate increases, signaling the end of its tightening cycle is near, as policy makers struggle to tame inflation without further jeopardizing growth.
The bank’s board, led by President Alexandre Tombini, voted unanimously to raise the benchmark Selic rate to 10.75 percent from 10.50 percent, as forecast by 44 of 61 economists surveyed by Bloomberg. Sixteen analysts expected the seventh straight half-point boost, while one forecast no change.