Brazil’s central bank said annual inflation will run above the tolerance range for the next six months, as food prices rise significantly and services costs remain elevated despite aggressive interest rate hikes.

Brazilian analysts say the tariffs announced by U.S. President Donald Trump against Canada, Mexico and China could cause a currency-related inflation surge in Latin America's largest economy, clouding the central bank's outlook for interest rates.

Turkey’s annual inflation probably eased to 41.2% at the start of the year, giving policymakers reassurance as they push forward with interest-rate cuts.Most Read from BloombergHow the 2025 Catholic J

The bank’s monetary policy committee increased the benchmark rate by a full percentage point to 13.25%.

Brazil's central bank on Tuesday stressed that cooling economic activity is crucial for bringing inflation to target, while labeling the unanchoring of inflation expectations and an overheating economy as "highly relevant" inflationary risks.