Brazil’s Central Bank Interrupts Sequence, Holds SELIC at Two Percent per Year

The SELIC has remained at its lowest level since official Central Bank records began in 1986.

RIO DE JANEIRO, BRAZIL - After a long downward trajectory, the Central Bank (BC) decided to maintain the economy's basic interest rate at its current two percent a year level. The Monetary Policy Committee (COPOM) decision was unanimous in a meeting that ended on Wednesday, September 16th. The index was expected to be maintained by financial analysts, who bet on the SELIC at this rate until the end of the year.

In a note, COPOM reported that inflation should rise in the short term, mainly because of the temporary upward trend in food prices and the partial standardization of the . . .

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