Brazil central bank holds rates, notes balanced inflation risks

Brazil’s central bank kept its benchmark interest rate at a record low 6.50 percent on Wednesday, as expected, while noting that recent economic data has been weaker than expected and that inflation risks are no longer skewed to the upside.

The bank’s nine-member monetary policy committee, known as Copom, voted unanimously to keep the benchmark Selic rate unchanged for the eighth straight meeting, as forecast by all 21 economists in a Reuters poll.

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