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Brazil Holds Key Rate at 15% Amid Persistent Inflation Concerns
Brazil Holds Key Rate at 15% Amid Persistent Inflation Concerns
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3
BTCCSquare news:
Brazil’s central bank maintained its benchmark Selic rate at 15% for the third consecutive meeting, underscoring its resolve to combat stubborn inflation. The decision, led by Gabriel Galipolo, aligns with economist forecasts and follows a cumulative 4.5 percentage-point hike between September 2022 and June 2023.
While inflation shows tentative signs of easing, policymakers remain wary. Price growth is projected to stay above the 3% target through 2028, exacerbated by record-low unemployment and concerns over Brazil’s fragile fiscal outlook. Mario Mesquita of Itaú Unibanco noted the MOVE reflects caution against external uncertainties and lingering monetary policy effects.
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