Copom also announced it should pull up the Selic by 1.5 percentage points at its next meeting, in December. The value is at its highest since October 2017, when it reached 8.25 percent a year.
For the second consecutive time, the Brazilian Central Bank did not change the economy’s benchmark interest rate. The Monetary Policy Committee unanimously decided to hold the Selic rate at 6.5% a year Wednesday (Jun. 20). The decision had been expected by analysts.