Central Bank of Brazil expects interest rate hike of 100 basis points in September: minutes

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SAO PAULO, Aug 10 (Reuters) – Brazil’s central bank expects to raise interest rates by another full percentage point next month to keep inflation expectations in check, minutes from its latest policy meeting revealed on Tuesday showed. suggesting concern about achieving its inflation target by 2022.

The minutes of the August 3 and 4 meeting, in which the committee that sets the bank’s monetary policy – known as Copom – raised rates by 100 basis points to 5.25%, showed that the benchmark scenario for the Authorities demand a series of increases to bring the Selic rate above the level considered neutral.

(Reporting by Brad Haynes. Edited in Spanish by Marion Giraldo)

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