World Economy

Brazil Interest Rate Hike

Brazil Interest Rate HikeBrazil Interest Rate Hike

Brazil will likely keep its aggressive pace of interest rate increases on Wednesday to rein in surging prices despite growing fears the once-thriving economy could plunge into recession this year. Forty-five out of 48 economists surveyed by Reuters expect a second straight 50 basis-point hike in the benchmark Selic rate to 12.25%, its highest since August 2011.