Brazil central bank defies Lula, keeps interest rate unchanged

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Brazil central bank defies Lula, keeps interest rate unchanged
LulaBrazil Central Bank
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BRASILIA, June 20 — Brazil’s central bank kept its key interest rate unchanged Wednesday at 10.5 per cent, ending a series of seven successive cuts since August last year. The...

Brazil ’s central bank kept its key interest rate unchanged Wednesday at 10.5 per cent, ending a series of seven successive cuts since August last year. — Reuters picBRASILIA, June 20 — Brazil ’s central bank kept its key interest rate unchanged Wednesday at 10.5 per cent, ending a series of seven successive cuts since August last year.

The bank said its unanimous decision was informed by an “uncertain global outlook and a domestic outlook marked by resilience in economic activity, raising inflation projections” and requiring an approach of “more caution.”

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