Copom blames inflation for interest rate inaction

The central bank of Brazil said on Thursday 29 May that its decision to hold interest rates last week was down to "persistent inflation". Minutes released by the Bank said it is premature to conclude that inflationary pressure has definitely eased.

Source: AEBrazil

The Brazilian Central Bank Thursday took pains to justify last weeks controversial decision to hold the Selic base rate steady at 26.5% annually.

The Central Bank Monetary Policy Committee (Copom), which stood pat on rates for the thi

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