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On August 28,BrazilThe central bank announced that it will between BanksThe benchmark interest rateIncrease by 0.5%, to 9% from 8.5% in the past.
This is since April this year the central bank raised interest rates for the fourth time in a row, the inter-bank benchmark interest rate of 7.25%.The central bank said in announcing the decision, a move aimed at curbing the risinginflation.In the year to July, Brazil over the past year the inflation rate was 6.27%, more than the management of the government's 4.5% target.
Here, however, analysts believe that at this point to raise interest rates also have new meaning, namely the inhibition of the real currency depreciation.Influenced by the fed may be the end of quantitative easing, since this year the real has depreciated by about 15%.For this, on the 22nd of this month, Brazil's central bank announced to take emergency measures, at the end of the year will invest $60 billion in reserves, to intervene in the market and the real exchange rate stable.The central bank's this measure has received preliminary results.
(source: xinhua)
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