May 22, 2018 / 11:22 AM / a month ago

Brazil central bank weighed rate cut before opting to hold -minutes

BRASILIA, May 22 (Reuters) - Brazil’s central bank considered cutting interest rates last week, but ultimately decided to leave them untouched due to potential inflationary pressure stemming from a weak currency, the minutes of its last policy meeting showed on Tuesday.

The bank last week unexpectedly kept the benchmark Selic rate at an all-time low of 6.50 percent, ending the deepest easing cycle in a decade and contradicting widespread expectations of a 25 basis-point cut. (Reporting by Bruno Federowski and Marcela Ayres)

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