Copom maintains Selic rate at historic low of 7,25%.
This was the second consecutive time that the Monetary Policy Committee (Copom) of the Central Bank did not change the benchmark interest rate, following a series of ten cuts.
BRASILIA, Jan 16 (Reuters) - The Monetary Policy Committee (Copom) of the Central Bank unanimously maintained the Selic rate at 7,25 percent per year on Wednesday, a record low.
This was the second consecutive time that the Copom (Monetary Policy Committee) did not change the benchmark interest rate, following a series of ten cuts.
"Considering the balance of risks to inflation, which has worsened in the short term, the recovery of domestic activity, which is less intense than expected, and the complexity that still surrounds the international environment, the Committee understands that the stability of monetary conditions for a sufficiently long period of time is the most appropriate strategy to ensure the convergence of inflation to the target," the Copom (Monetary Policy Committee) reported.
A Reuters poll last week showed that 32 out of 33 economists surveyed expected the Selic rate to remain at this level.
(Reporting by Luciana Otoni and Alonso Soto)