Brazil Central Bank Holds Rates at low 6.5 Percent

Some economists think the economy may have shrunk in the first quarter, and there is little to suggest much improvement in the second.

By Newsfeed

RIO DE JANEIRO, BRAZIL - The Central Bank's Monetary Policy Committee maintained Brazil’s benchmark interest rate (Selic) at 6.5 percent for the ninth consecutive meeting, in line with market expectations, and ruled out the possibility of a rate cut in the near future, reiterating it needs time to evaluate the Brazilian economy.

The committee pointed out for the first time that the activity slowdown of late last year continued in the beginning of 2019, but said its baseline scenario contemplates the gradual economic recovery.

Uncertainty about the government's fiscal reforms and concerns about a global . . .

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