June 20, 2018 / 9:19 PM / a month ago

Brazil leaves rates unchanged at all-time low despite weak FX

BRASILIA/SAO PAULO, June 20 (Reuters) - Brazil’s central bank kept interest rates unchanged on Wednesday, as expected, refraining from hiking even after the country’s currency fell to its weakest levels in more than two years.

The bank’s nine-member monetary policy committee, known as Copom, kept the benchmark Selic rate at 6.50 percent. All but one of 38 economists polled by Reuters had forecast the bank would stand pat. (Reporting by Bruno Federowski in Brasília and Patricia Duarte in São Paulo; Writing by Bruno Federowski)

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