INTEREST RATES
Central Bank to hold interest rates steady amid mixed economic signals
Brazil’s central banker, Gabriel Galípolo, is facing a complex economic scenario, keeping interest rates high, much to the government’s displeasure. Photo: Marcelo Camargo/EBC
Later today, Brazil’s Central Bank is expected to keep its benchmark interest rate unchanged at 15%, extending a monetary tightening cycle that has become one of the longest among the world’s major emerging economies. The decision comes as the country’s labor market remains unexpectedly strong, even as some indicators suggest that the broader economy is beginning to cool down.
After a weak August, the Labor Ministry’s September jobs report showed that Brazil added 213,000 formal jobs that month — well above the market expectation of…
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