Brazil's central bank hikes interest rates 50 bps to 8.5% - the third increase this cycle - and...

|By:, SA News Editor

Brazil's central bank hikes interest rates 50 bps to 8.5% - the third increase this cycle - and indicated it isn't finished tightening. Brazil is currently caught in a trap of sluggish growth and perky inflation, i.e., stagflation, and it's stock market has been about the worst-performing serious bourse this year. Things are looking good ahead of the open though, EWZ +3.4%.