Brazil to Hold Rates in Expectation of Spending Curbs

Brazil’s central bank, which left borrowing costs unchanged yesterday, may keep its benchmark interest rate at its current level until at least March as it waits to see whether the country’s next president will restrain public spending to contain inflation.

Policy makers, led by bank President Henrique Meirelles, left the rate at 10.75 percent a second straight meeting yesterday after assessing the “inflation perspectives,” according to a one-sentence statement. The unanimous decision was forecast by all 51 analysts surveyed by Bloomberg.