For the 4th consecutive time, the central bank raised its Selic benchmark lending rate for a fourth straight time... by 25 bps...to 12.25%.
President Alexandre Tombini (left) has all but promised to raise it again... perhaps by more than 25 bps... to cool down inflation.
In April, Brasil's annual inflation surpassed 6.5%...the target range's upper limit...for the first time since 2005.
Unemployment is a near record low of 6.4%... and credit is expanding annually at a 20%.