Brazil and Paraguay hold rates, while Curaçao opts for rise

Central Bank of Brazil
Central Bank of Brazil

Brazil: The Central Bank of Brazil held its benchmark Selic rate unchanged at 13.75% on December 7, for the third consecutive meeting.

The central bank’s nine-member board raised the rate by 1,175bp between March 2021 and September 2022. The board voted unanimously to hold the rate, with one director absent.

Year-on-year headline inflation has fallen by almost half from a peak of 12.1% in April, to 6.5% in October. The central bank forecast 5% inflation for next year, still above the target of

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