The Brazilian Central Bank on Wednesday night held the nation’s base interest rate at its historic low of 6.5%. The bank’s monetary committee voted unanimously to hold the rate steady. It was the fifth such vote in a row. In a brief note, the bank said inflationary pressures have subsided somewhat since the last committee vote in September. Brazilian inflation is slightly under the government target of 4.5%. The nation’s economy is still making a sluggish recovery from a long recession. The committee said current conditions favor a policy of mild monetary stimulus rather than retraction. Economists said the bank w as likely to hold the rate steady again at its December meeting, the last of the year.
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