Brazilian Central Bank keeps annual basic interest rate

20th June, 2019 10:53:55 printer

RIO DE JANEIRO: The Brazilian Central Bank's Monetary Policy Committee (Copom) announced on Wednesday their decision to maintain the country's annual basic interest rate Selic at 6.5 percent.

It was the tenth consecutive time the Selic rate is being maintained at this level -- the rate has not been changed since March 2018. The Selic rate's current level is record low, reports Xinhua.

The decision to maintain the rate at its current level was expected by the market. In the latest Focus market survey carried out by the Central Bank among economists from Brazilian financial institution.