Banco Central do Brasil maintains Selic rate at 11%

By Toni Weeks

San Luis Obispo, Calif. May 29 - Banco Central do Brasil's Monetary Policy Committee (Copom) decided to maintain the Selic rate at 11%, according to a news release from the bank.

The bank raised the rate to 11% in April, to10¾% in February, to 10½% in January and to 10% in December.

The committee said the decision was unanimous based on an assessment of the evolution of the macroeconomic scenario and inflation prospects.

The May meeting minutes will be released in Portuguese on June 5.

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