RIO DE JANEIRO, Dec. 12 (Xinhua) -- The Brazilian Central Bank's monetary policy committee has decided to keep the annual basic interest rate Selic at the record low of 6.5 percent, the committee said Wednesday.
It was the sixth consecutive time the committee voted to maintain the rate at 6.5 percent. The rate has accumulated a decrease of 0.5 percentage point this year.
The decision was in line with expectations that the rate would be maintained at 6.5 percent until the end of the year. The committee will meet again in early February.
The committee highlighted the risk that the sluggishness in the Brazilian economy will keep inflation in check, but it said the risk of the structural reforms not being approved has decreased as the new president to be sworn in January has taken a stance favorable to economic reform.
It also said that the international scenario remains challenging for emerging economies like Brazil, citing the possibility of rate hikes in developed countries and a possible escalation of trade tensions. Enditem
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