Brazil’s Central Bank Holds Its Key Rate at Lofty 15%

Brazil’s central bank on Wednesday held its key interest rate steady at a steep level, as expected, and maintained its hawkish outlook as inflation remained above target.

The bank’s monetary policy committee, known as Copom, kept its Selic rate at 15%—among the world’s highest levels—for a fourth consecutive meeting and gave no indication that a cut might be coming anytime soon.