INTEREST RATES
Rate remains 15%, but markets fixate on new wording
Central banker Gabriel Galípolo wants to take inflation to the goal, not just within the tolerance band. Photo: BCB
Brazil’s Central Bank delivered exactly what investors expected on Wednesday, holding its benchmark interest rate at 15% — the highest level since 2006. In a statement, the Monetary Policy Committee, known as Copom, reaffirmed that borrowing costs would remain restrictive “for a very prolonged period.”
The decision came hours after Brazil had released its latest inflation reading, showing consumer prices rising 4.46% in the 12 months through November. Though still well above the 3% target, the figure marked the first time in a year that…
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