Brazil hikes benchmark rate again

|By:, SA News Editor

Brazil's central bank has upped its benchmark interest rate by another 25 bps to 10.75%.

325 bps worth of rate hikes were carried out in 2013 in an effort to keep a lid on inflation. Brazil's 2013 inflation rate was 5.9%, handily exceeding a 4.5% target.

Better-than-expected January unemployment data raised expectations another rate hike would happen.

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