Brazil holds interest rate at 15%

Caution required: A pedestrian near the entrance of the central bank of Brazil. Policymakers are holding rates as inflation expectations in Latin America’s largest economy run above the 3% goal through 2028. — Bloomberg

BRASILIA: Brazil’s central bank held its key interest rate steady at a nearly two-decade high and refrained from indicating the start of easing is near as inflation forecasts run above target despite a softer economy.

Board members led by Gabriel Galipolo voted unanimously to keep the benchmark Selic unchanged at 15% for the fourth straight meeting on Wednesday, as expected by all economists in a Bloomberg survey.