October 18, 2012 / 11:45 AM / in 5 years

Brazil central bank signals end to year of rate cuts-minutes

BRASILIA, Oct 18 (Reuters) - Brazil will keep its benchmark interest rate stable for some time, minutes of the central bank’s last monetary policy meeting said on Thursday, signaling an end to a year of rate cuts in Latin America’s largest economy.

The central bank cut its benchmark Selic rate for the tenth straight time to an all-time low of 7.25 percent on Oct. 10 to bolster a weak recovery as the global economy deteriorates.

The bank’s Monetary Policy Committee, known as Copom, also said it remains vigilant about short-term inflation and that the risks to the global stability remain high

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