RIO DE JANEIRO, BRAZIL – According to Arruda, in the September 21 meeting, the Central Bank should raise the basic interest rate by 1.5 percentage points, taking the SELIC from 5.25% to 6.75% per year, something entirely ruled out by Campos Neto’s last statement.

The economist says there is a combination of forces that prevents inflation from converging to lower levels.

“Inflation is de-anchoring and, when this happens, more . . .

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