Brazil holds policy at 15% for third time in a row
BCB continues to signal hawkishness despite calls from finance minister to cut rates
The Central Bank of Brazil (BCB) has maintained its policy rate at 15% for the third consecutive time as prices continue to stay above target, notwithstanding the bank’s restrictive monetary stance.
The BCB’s monetary policy committee, known as Copom, voted unanimously to hold on November 5. The decision was in line with market expectations.
In a statement, Copom said “maintaining the interest rate at its current level for a very prolonged period will be enough to ensure the convergence of
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