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Montevideo, March 28th 2024 - 10:47 UTC

Tag: developed economies

  • Thursday, June 20th 2019 - 08:50 UTC

    Brazil central bank leaves benchmark rate at 6.50%; forecasts of 5.50% by December

    Announcing its decision hours after the Fed opened the door for U.S. interest rate cuts, Copom voted unanimously to keep the Selic rate unchanged

    Brazil’s central bank held its benchmark interest rate at a record-low 6.50% on Wednesday, as expected, holding back from signalling looser policy because of doubts on economic reforms. The scenario outlined by policymakers was one of anaemic economic growth and high levels of economic slack putting downward pressure on inflation at home, plus the prospect of interest rates coming down in major developed economies.