The Brazil government and the Brazil Central Bank have kept the benchmark interest rate stable for the third straight meeting in a row in order to keep the Brazil economy growing according to Bloomberg.
The overnight rate is currently set at 8.75 percent and is considered to be consistent with a non-inflationary recovery according to the bank board’s statement.
It is likely that the Brazil Central Bank will keep rates at this level for quite some time as the Brazil economy continues to grow at a steady pace.
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