Print Edition - 2018-09-21  |  Money Digest

Brazil maintains record low 6.5pc interest rate


Sep 21, 2018-

Brazil’s Central Bank maintained its key interest rate at the historic low of 6.5 percent on Wednesday, despite uncertainty related to next month’s presidential elections and a weakening of the currency against the dollar. Following 12 successive cuts, the key interest rate—the main tool in the fight against inflation—has been stable since March. “The evolution of the situation encourages the maintenance of the rate at its current level,” said the Central Bank in a statement. Most analysts don’t expect the rate to be increased again until 2019, when it should be raised to 8.0 percent. Inflation accelerated in June, up 1.26 percent on the previous month, due in part to a truckers’ strike that paralys ed the country at the end of May. (AFP)

Published: 21-09-2018 08:27

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