The Banco Central do Brasil lifted the Selic (main policy interest rate) rate 50 basis points to 11.25% from 10.75% as inflationary pressures continue to build in the fast growing "BRIC" economy. Brazil saw a 2010 calendar year inflation figure of 5.91% vs the official target of 4.5% and up from 4.31% in 2009. The move was the first change since the new Central Bank President, Alexandre Tombini, took the helm of the Banco Central do Brasil.
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