March 22, 2019 |
Brazil's central bank said it has kept its benchmark lending rate at 6.5%, admitting that the economic recovery has not fulfilled predictions.
"Recent data on economic activity came in below expectations. Nevertheless, the Brazilian economy remains on a gradual recovery path," the Copom, the bank's monetary policy committee, said in a statement.
"The Copom reiterates that economic conditions prescribe stimulative monetary policy, i.e., interest rates below the structural level," it added.
Central bank keeps the Selic at 6.5% as economic recovery fails to match expectations