(ANSA) - BRAZIL, OCTOBER 27 - The central bank of Brazil has raised its reference interest rate by 150 basis points, to 7.75%, the largest increase since 2002, in an attempt to halt the inflation race.
The increase, in line with analysts' expectations, is the sixth in a row for Latin America's largest economy, whose recovery from the pandemic is taking a hit due to the surge in prices.
It was unanimously agreed by nine members of the bank's monetary policy committee, who said in a statement that an increase "of the same size" could emerge from the next meeting in early December.
(HANDLE).