Brazil central bank keeps key rate at 6.5pc

7th February, 2019 11:05:53 printer

BRASÍLIA: Brazil's central bank Wednesday kept its key rate steady at a historically low 6.5 percent, showing caution as President Jair Bolsonaro's government readied structural reforms meant to boost the economy.

The decision adopted unanimously by the bank's Monetary Policy Committee aligned with forecasts by most analysts, reports AFP.

In a statement, the committee said that it has seen a "reduction of inflationary risks" since its last meeting in December.

But it said international context remained "challenging" and that obstacles to the anticipated reforms could "elevate the inflationary trajectory."