Brazil Maintains Rate at 10.75% After Inflation Slows
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Brazil’s central bank kept its benchmark interest rate unchanged at 10.75 percent after inflation slowed below target and as the global economic recovery falters.
The policy board’s pause, after three straight increases, matched the forecast of 46 of 57 economists surveyed by Bloomberg. Seven economists predicted a quarter-point increase, and four anticipated a half-point rise, betting that higher borrowing costs will be needed to prevent a rebound in inflation next year.