Business

Brazil still has one of the highest interest rates in the world

Brazil real interest rates are among the highest in the world
Brazil’s real interest rates are at almost 3%. Photo: Thinkstock
Brazil real interest rates are among the highest in the world
Brazil’s real interest rates are at almost 3%. Photo: Thinkstock

For the last year and a half, the Central Bank’s Monetary Policy Committee has consistently slashed Brazil’s benchmark interest rate. The Selic rate has gone from 14.25 percent a year in October 2016, to a record-low 6.5 percent. It doesn’t mean, however, that consumers have access...

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