Central Bank of Brazil pauses tightening cycle

Central Bank of Brazil

The Central Bank of Brazil (BCB) left interest rates unchanged at its monetary policy meeting on September 21. As a result, the key Selic rate remains at 13.75%.

In doing so, the BCB became the first central bank from a large economy to pause the cycle of interest rate increases.

The central bank started the tightening cycle in March 2021, when rates stood at 2%, the lowest level on record.

Brazil’s inflation has fallen recently, but remains well over the central bank’s target. In August

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