Brazil increased key interest rate (By Sylodium Import-Export directory)

Brazil's Central Bank raised its key interest rate by half a percentage point to nine percent in a bid to curb surging inflation, the bank's monetary policy committee said on Wednesday the move will help set inflation on the decline and ensure that trend continues into next year.

It was the fourth consecutive increase this year as the real has depreciated against the dollar in a volatile market roiled by expectations of tighter US monetary policy. In July, 12-month inflation reached 6.27 percent, below but very close to the upper limit of the government target of 6.5 percent.

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