Brazil raises benchmark interest rate to 12.5% on risk of inflation
APSAO PAULO--Brazil's central bank has raised a key interest rate on worries of inflation. The nation's benchmark Selic rate is now at 12.5 percent. That's up from 12.25 percent, and is the fifth time in six months that the bank has boosted the rate.
July 22, 2011, 12:04 am TWN
The Brazil Central Bank says it made the decision by looking at the risks of inflation.