The Brazilian Central Bank on Wednesday voted unanimously to hold the nation’s base interest rate steady at 14.25 percent, It was the ninth ‘hold’ decision in a row. In a statement, the bank opened the door slightly to a possible rate cut, saying any reductions in the nation’s sky-high base rate would depend on further declines in inflation. Inflation is currently running at 8.7 percent, down from 10.7 percent at the end of 2015. The government’s target for inflation is 4.5 percent.
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