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Brazilian Central Bank’s Copom keeps basic interest rates at 13.75% per year

Despite the recent hike in inflation, the Central Bank (BC) did not change interest rates. By unanimity, the Monetary Policy Committee (Copom) maintained the Selic rate, the economy's basic interest rate, at 13.75% per year.

Financial analysts expected the decision. The Central Bank Regulation Director, Otávio Damaso, did not attend the meeting.

The other directors and BC's president, Roberto Campos Neto, voted to maintain the rate.

As in the last few times, Copom kept the warning that it may raise the Selic again if inflation does not fall as expected.

In a statement, the committee cited . . .

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