Brazil's Central Bank Holds Rates as Inflation Remains Above Target

By Paulo Trevisani

Brazil's central bank Wednesday held interest rates steady at a high level, as expected, as inflation remains above target.

The bank's monetary policy committee, known as Copom, kept its Selic rate at 15%--which is among the world's highest--for the fourth consecutive time and gave no indication that a cut could be coming anytime soon.

The Copom kept language from previous meetings, stating that "maintaining the interest rate at its current level for a very prolonged period is appropriate" and it "will not hesitate to resume the rate hiking cycle if appropriate."

Economists expect the bank to start cutting rates in the first quarter of next year.

Write to Paulo Trevisani at [e-mail]

(END) Dow Jones Newswires

12-10-25 1701ET