India, March 20 -- Brazil's central bank raised its benchmark rate sharply by 100 basis points and signaled adjustment of lower magnitude in the next meeting.
The monetary policy committee, known as Copom, raised the selic rate by 100 basis points to 14.25 percent, the highest since 2016.
The decision came on the day when US Federal Reserve left its interest rate unchanged. But the Fed signaled that it is still likely to lower rates later this year.
The Copom noted that the global environment remains challenging due to the economic policy and outlook in the United States.
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Further, the Copom observed that the current scenario is marked by additional dea...