Economists point to external woes as Central Bank of Brazil holds rates
Monetary policy committee leaves interest rate unchanged at 14.25% in surprise move
The Central Bank of Brazil held its policy rate at 14.25% on January 20, amid concerns there is an increase in risk in the domestic and external environment.
The monetary policy committee says the balance of risk had changed somewhat over the past month, due to an "increase in uncertainties".
Earlier in the week, analysts had predicted a 50 basis point (bp) hike was on the cards. "I had expected a hike but the comment with reference to the IMF's forecast obviously made me less certain," says
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