Brazil holds interest rate at record low
Recent indicators of economic recovery point to more gradual pace than envisaged early this year, committee says
The Brazilian central bank’s monetary policy committee left its benchmark interest rate unchanged at 6.5% on September 19.
The decision to maintain the record low rate comes amid continued political and fiscal uncertainty, sluggish economic growth, slow inflation and a weak currency.
The monetary policy committee “reiterates that economic conditions still prescribe stimulative monetary policy, with interest rates below the equilibrium level”, it says in its policy statement.
Inflation
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