Brazil central bank holds rates steady | 2019-03-22 |

Brazil central bank holds rates steady

21st March, 2019 10:10:00 printer

BRASILIA: Brazil’s interest rates remained unchanged Wednesday after the central bank held its first monetary policy meeting under its new chief Roberto Campos Neto.

The central bank’s unanimous decision — only the second since pro-business President Jair Bolsonaro took power in January on a promise to revive Latin America’s biggest economy — to keep rates at 6.5 percent was in line with market expectations, reports AFP.

Rates have been at the historic low for a year and the bank gave no indication of plans to cut them any time soon despite slowing growth.