BRASILIA, April 28 (Reuters) - Brazil's central bank raised its benchmark lending rate BRCBMP=ECI to 9.5 percent from a record-low 8.75 percent on Wednesday, the first increase in nearly two years.
The bank’s monetary policy committee, known as Copom, voted unanimously to increase the so-called Selic rate. [ID:N28119055].
Following is the text of the statement issued by the Copom after its two-day monetary policy meeting:
“Continuing the adjustment of monetary conditions to fit the outlook for the economy, to ensure the convergence of inflation with the target, Copom decided unanimously to raise the Selic rate to 9.50 percent per annum, without bias.” (Compiled by Todd Benson; editing by Andre Grenon)
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