Brazil keeps rates as spat with Lula fuels inflation bets

Policymakers kept the benchmark Selic at 13.75%. — Reuters

BRASILIA: Brazil’s central bank has kept its key interest rate unchanged for the fourth straight meeting, expressing concern about a rise in inflation expectations that were further fuelled by tensions with the new government of President Luiz Inacio Lula da Silva.

Policymakers kept the benchmark Selic at 13.75%, as expected by all analysts in a Bloomberg survey.