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25 March 2010
BRASIL: Central Bank Prepares For First Interest Rate Hike In 2 Years.
REUTERS/ Central bankers are said to be ready to raise the interest rate on April 28 to curb inflation pressure as jobs data show the country's strong economic rebound. A statement said "Given the signs of robust domestic demand, causing the reduction of the output gap... and recent inflation expectations, the risks to a benign inflation scenario increased." The bank is also preparing a series of changes in foreign exchange rules to slow currency inflows and offset dollars from investors hungry for higher yields.