Brazil Inflation Breaks Above Target, Clouding Hopes of Rate Cuts

Brazil Inflation Breaks Above Target, Clouding Hopes of Rate Cuts

Brazil's inflation jumped to 4.72% in May, breaking the central bank's 4.5% ceiling for the first time since October. With Selic at 14.5%, rate cuts are now paused; tighter credit will slow tech hiring and raise infrastructure costs across the region.