Banco Central do Brasil committee keeps Selic rate unchanged at 14¼%

By Wendy Van Sickle

Columbus, Ohio, April 28 – Banco Central do Brasil’s Monetary Policy Committee (Copom) voted unanimously to maintain the Selic rate at 14¼%, according to a news release from the bank.

The committee said it recognized improvements in the policy to control inflation, especially the containment of second-order effects stemming from relative prices adjustments.

However, it ultimately decided that high inflation over the past 12 months and the difference between inflation expectations and inflation target objectives do not allow monetary policy easing.

Copom also maintained the rate at its previous meetings in March, January, October and September. It had increased the rate to 14¼% from 13¾ in July 2015.

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