Brazil held its benchmark interest rate at a record low and signaled it can cut borrowing costs to help a frail economy once a key austerity measure advances further in Congress.
The bank’s board, led by its President Roberto Campos Neto, on Wednesday
kept the Selic unchanged at 6.50% in a decision expected by all but one of the 39 economists in a Bloomberg survey. Officials have held borrowing costs steady for over a year.
By Mario Sergio Lima via Bloomberg