(Bloomberg) -- Brazil’s central bank said it sees another increase of 150 basis points in its key interest rate during the bank’s February meeting, after lifting borrowing costs on Wednesday by that same magnitude to 9.25%.

“The Committee considers that, given the increase in its inflation projections and in the risk of a deanchoring of long-term expectations, it is appropriate to advance the process of monetary tightening significantly into the restrictive territory. The Committee will persist in its strategy until the disinflation process and the expectation anchoring around its targets consolidate,” the bank said in a statement. 

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