The Central Bank of Brazil decided to keep its benchmark Selic rate at 11.25% today as growth and inflation accelerated. It is the first time in 18 meetings that the central bank has voted against a rate cut.
"After evaluating the macroeconomic outlook, the Copom [the rate-setting committee] decided unanimously to halt monetary policy easing," the central bank said.
Analysts were split on whether the central bank would hold or lower rates, but a rate cut was considered more likely after infla
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