Brazil holds interest rate at record low

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The Brazilian central bank’s monetary policy committee left its benchmark interest rate unchanged at 6.5% on September 19.

The decision to maintain the record low rate comes amid continued political and fiscal uncertainty, sluggish economic growth, slow inflation and a weak currency.

The monetary policy committee “reiterates that economic conditions still prescribe stimulative monetary policy, with interest rates below the equilibrium level”, it says in its policy statement.

Inflation

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