Brazil central bank holds rates, warns of reform risks

Brazil’s central bank held its benchmark interest rate at a record-low 6.50% on Wednesday, as expected, holding back from signaling looser policy because of doubts on economic reforms.

Otherwise, the scenario outlined by policymakers was one of anemic 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.

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