Central Bank of Brazil pauses tightening cycle
Latin America’s leading central bank says holding rates may be enough to reach inflation target
The Central Bank of Brazil (BCB) left interest rates unchanged at its monetary policy meeting on September 21. As a result, the key Selic rate remains at 13.75%.
In doing so, the BCB became the first central bank from a large economy to pause the cycle of interest rate increases.
The central bank started the tightening cycle in March 2021, when rates stood at 2%, the lowest level on record.
Brazil’s inflation has fallen recently, but remains well over the central bank’s target. In August
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