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Banco Central do Brasil committee unanimously hikes Selic rate to 10¼%
By Marisa Wong
Milwaukee, June 10 - Banco Central do Brasil's Monetary Policy Committee (Copom) decided to increase the Selic rate to 10¼%, according to a news release.
The rate was previously raised to 9½% from 8¾%.
Copom said in the release that the decision to increase the rate was unanimous and is part of the adjustment process of the monetary conditions to the forward-looking scenario of the economy.
The decision is meant to ensure that inflation converges with the target's path, Copom added.
The minutes of the committee's June meeting will be released on June 17.
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