Brazil maintains 15% rate as inflation persists

Brazil’s central bank kept its key interest rate steady at a near two-decade high, signaling its continued commitment to combating persistent inflation. Led by Gabriel Galipolo, the board held the benchmark Selic rate at 15% for the third consecutive meeting, in line with forecasts from all economists surveyed by Bloomberg. The central bank had previously lifted borrowing costs by a total of 4.5 percentage points between September of last year and June. Inflation shows signs of easing, but challenges remain The central bank is making gradual progress in taming prices in Latin America’s largest economy, but inflation is expected to stay above the 3% target through 2028. Record-low levels of unemployment and mounting concerns about Brazil’s shaky public finances are clouding the outlook, forcing policymakers to remain vigilant. The central bank is slowly curbing inflation in Latin America’s largest economy, but prices are projected to remain above the 3% target...

https://www.cryptopolitan.com/brazil-holds-15-rate-as-inflation-persists/