Brazil and Paraguay hold rates, while Curaçao opts for rise

Inflation has almost halved in Brazil in six months since April, but board says fiscal outlook uncertain

Central Bank of Brazil
Central Bank of Brazil

Brazil: The Central Bank of Brazil held its benchmark Selic rate unchanged at 13.75% on December 7, for the third consecutive meeting.

The central bank’s nine-member board raised the rate by 1,175bp between March 2021 and September 2022. The board voted unanimously to hold the rate, with one director absent.

Year-on-year headline inflation has fallen by almost half from a peak of 12.1% in April, to 6.5% in October. The central bank forecast 5% inflation for next year, still above the target of

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