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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Americas+1 212 318 2000
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Asia Pacific+65 6212 1000
Brazil’s central bank said inflation risks are materializing due to factors including a weaker currency and resilient demand, forcing the board to signal unanimously that borrowing costs will rise past 14% by March.
“Upside inflation risks, such as the resilience of services inflation, the deanchoring of expectations, and exchange rate depreciation, have materialized,” central bankers wrote in minutes to their Dec. 10-11 meeting, when they raised the benchmark Selic by a full percentage point to 12.25%. Several consumer price measures have deteriorated, making the convergence of inflation to the bank’s 3% target more challenging, they wrote.
Brazil Central Bank Says Record Low Exchange Rate Is Fueling Inflation – Bloomberg.com
