Brasília – For the third time in a row, the Brazilian Central Bank has kept the benchmark interest rate, known as the Selic rate, at 6.5% per annum. The decision was made this Wednesday (1) by the bank’s Monetary Policy Committee (Copom), in line with what financial analysts had been expecting.
The Copom said in a statement that recent indicators point to economic recovery in the wake of the trucker strike in late May and early June, albeit at a slower rate than expected prior to the strike. As for the international economy, the Copom said that despite some recent market accommodation, risks of interest rate hikes in advanced countries and uncertainty regarding global trade remain.
Translated by Gabriel Pomerancblum
