Brazil’s central bank held its key interest rate unchanged a seventh straight time Wednesday and gave no sign it was prepared to start lowering it soon, despite pressure from President Luiz Inacio Lula da Silva.
Citing uncertainty in the inflation outlook, the bank’s monetary policy committee called for “caution and temperance” and said its eight members had voted unanimously to hold the benchmark rate at 13.75 percent, one of the highest in the world.
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