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Brazil Holds Key Rate at 6.50% As Prices Drop, Growth Drifts

  • Central bank decision expected by all 39 economists in survey
  • Ilan Goldfajn preparing to leave bank presidency in early 2019
Updated on

Brazil held its benchmark interest rate unchanged at a record low amid a sharp downturn in inflation and feeble economic activity.

The bank board, led by its President Ilan Goldfajn, on Wednesday kept the Selic rate at 6.50 percent for the sixth straight meeting in a move expected by all 39 analysts in a Bloomberg survey. The meeting was one of the last under Goldfajn, who will step down from his position in the coming months.