Which will actually hurt you and me in some not so surprising ways. From Breitbart:

Brazil’s central bank raised its key interest rate half a percentage point to 11.25 percent late Wednesday, amid fears that inflation was getting out of hand.

The move, though, adds to upward pressure on Brazil’s currency, the real, whose soaring value against the dollar has already become problematic for the country’s exporters.

The central bank’s monetary policy committee decided the interest rate hike unanimously, the institution said in a statement.

Market observers had been expecting the increase, the first since July last year.

Inflation last year quickened to 5.91 percent, well above the government’s target of 4.5 percent.

[…]

Although hiking the interest rate will make credit purchases more expensive in Brazil, it will also further enhance the country’s allure to foreign investors who are guaranteed rate-linked returns higher than for any other big economy in the world.

That will inevitably push the real up further against the dollar.

It has already soared more than 100 percent against the greenback over the past eight years and looked likely to climb further despite government efforts to tax foreign capital for fixed-income investments and heightened deposit requirements for domestic banks making foreign exchange bets against the real.

The move also makes Brazilian commodities, such as iron ore, soya beans, orange juice and coffee, more expensive on the world market, undercutting exporters’ performance.

So this will add pressure to are already pressured Municipal bond market by making investment in Brazil more profitable, and will raise the prices of things like coffee and orange juice which are already getting too expensive. Stock up. There’s a deal for $30.00 off a 40oz Dunkin Donuts  ground coffee bag on Amazon right now.