Brazil has raised its benchmark interest rate to 9% from 8.5% in a further attempt to rein in inflation.
The central bank’s monetary policy committee, the Copom, voted unanimously for a third straight half percentage point rate rise.
The Copom left the door open for more hikes by reiterating that the latest rise is part of an ongoing rate-adjustment process.
A fall in the value of Brazilian real has stoked inflation, currently 6.15%.
The currency’s fall has been blamed on an outflow of capital triggered by expectation that the US Fed will end its stimulus policy, leading to a stronger dollar.
The real has lost 20% of its value against the dollar since the start of the year.
Other emerging nations, including in southeast Asia, have suffered similar currency problems.
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