Brazilian MPC holds key rate again

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The Central Bank of Brazil held the Selic policy rate at 13.75% at its May 3 monetary policy meeting, despite political pressure.

Though inflation has been decelerating in Brazil, the central bank’s policy-setting board said it remained above the inflation target. In its statement, the central bank board, which is also the monetary policy committee, said the economy is in “a stage in which the disinflationary process tends to be slower in an environment of deanchored inflation expectations”.

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