Rio de Janeiro, Brazil. File photoMEXICO CITY, Apr 5The Monetary Policy Committee of Brazil's Central Bank (Copom) has raised its key rate for the tenth consecutive time to 12.75%, according to a statement on the organisation's website.» Copom has unanimously decided to raise its benchmark interest rate by 1.00 percentage points to 12.75% per annum. The Committee understands that this decision reflects uncertainty about its scenarios and the risk of even more variance than usual for inflation forecasts.» communiqué. The organization's experts noted the continuing deterioration of external conditions and the growth of domestic consumer inflation. According to experts, with the dollar exchange rate above 4.95 Brazilian reais and oil price of $100 per barrel, by the end of the year, inflation will be 7.3% in the current year and 3.4% in 2023. The new key rate of the Central Bank of Brazil of 12.75% is highest since 2017. The monetary authorities raised it ten times in a row and did not rule out a new increase based on the results of the meeting in mid-June, however, not so significant. According to the head of the Central Bank, Roberto Campos Neto, inflation this year «exceeded the bank's expectations.» The IPCA-15 index for key commodities, which is an indicator of general inflation, grew by 1.73% in April, and reached 12% in 12 months. jpg» />Ex-president of Brazil called the sanctions against Russia the punishment of the whole world
