By Lise Alves, Senior Contributing Reporter
SÃO PAULO, BRAZIL – In a surprising move, the Brazilian Central Bank’s Monetary Policy Committee (COPOM) decided to leave the benchmark interest rate (Selic) unchanged. This is the fourth consecutive time the rate has been maintained at 14.25 percent.
“Evaluating the macroeconomic scenario, the outlook for inflation and the current balance of risks, and considering the increase of domestic, and especially foreign, uncertainties, the Copom has decided to maintain the Selic rate at 14.25 percent per year,” said the statement delivered by the Committee after the decision.
According to officials six . . .