Brazil Central Bank Won’t Declare Inflation Win Amid Slowing

Brazil’s central bank chose to keep a degree of freedom about when it will start easing monetary policy as inflation expectations remain above target through 2028 despite weaker economic activity.

“Domestic economic activity has maintained a trajectory of moderate growth, as anticipated by the Committee,” policymakers led by Gabriel Galipolo wrote in the minutes to their Dec. 10 decision, when they kept the benchmark Selic unchanged at 15% for the fourth straight meeting.