By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL - For the seventh consecutive meeting, the Brazilian Central Bank’s Monetary Policy Committee (COPOM) decided to leave the benchmark interest rate (Selic) unchanged at 14.25 percent per year. Due to the weakened economy and the negative economic data, this decision was already expected by analysts.

“The Committee recognizes the progress in disinflation policy, especially the containment of secondary effects of relative price adjustments. However, it considers that the high level of inflation in twelve months and the inflation expectations far from the objectives of the target regime offer no . . .

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