Brazil Starts Mulling Key Rate Cut Under New Bank President

Brazil’s central bank held its benchmark interest rate at an all-time low in the first meeting under its new boss and signaled it could lower borrowing costs in the future if growth continues to disappoint.

The bank’s board on Wednesday kept the Selic rate unchanged at 6.50 percent for the eighth straight meeting in an announcement expected by all 39 economists in a Bloomberg survey. It was the first monetary policy decision under Roberto Campos Neto, who was sworn in as head of the monetary authority earlier this month.