December 17, 2015 / 8:54 PM / 2 years ago

Brazil raises BNDES lending rate for fifth straight time

BRASILIA, Dec 17 (Reuters) - Brazil’s national monetary council on Thursday raised for the fifth consecutive time the interest rate at which state development bank BNDES pegs its loans.

The country’s highest economic body, comprised of the finance and planning ministers and central bank chief, raised the so-called TJLP rate by another 50 basis points to 7.50 percent for the first quarter of 2016. (Reporting by Alonso Soto; Editing by Lisa Shumaker)

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