Brazil's central bank raises interest rates for the sixth time this year, the highest level of interest rates in 4 years

　　The Monetary Policy Committee of the Brazilian Central Bank announced on the evening of October 27, local time, that it would raise the benchmark interest rate from the previous 6.25% to 7.75%.

This is the sixth interest rate hike by the Brazilian Central Bank this year.

The current level of interest rates in Brazil has reached the highest point since 2017.

　　This interest rate hike confirmed the expectations of market analysts, but the 1.5% rate hike was still beyond the market’s general expectations.

　　Some analysts believe that it will be more difficult for the Brazilian central bank to maintain the current level of inflation as the government continues to increase spending.

(Produced by Xu Miaoqiao)

Editor in charge: [Ji Xiang]