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Brazil Central Bank Holds Rates at Record low 2.00%, Eyes end of Forward Guidance


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RIO DE JANEIRO, BRAZIL – Brazil’s central bank kept its key interest rate at a record-low 2.00% on Wednesday, as expected, but gave the first sign that it could soon remove its “forward guidance” pledging to keep rates lower for longer, in light of the recent rise in inflation.

In a statement accompanying the unanimous decision, the bank’s rate-setting committee known as ‘Copom’ said conditions for forward guidance still hold, and that the economy still requires a large amount of monetary stimulus.

But Copom’s inflation forecasts were notably higher than its last meeting in late . . .

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