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LatinNews Regional Monitor: Brazil & Southern Cone - 21 March 2019

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In brief: Brazil

* The monetary policy committee (Copom) of Brazil’s central bank (BCB) has held the Selic, its benchmark interest rate, at its record low of 6.5% for the eighth consecutive time. The Copom unanimously agreed to maintain the Selic unchanged. In the note announcing the Copom’s decision, the BCB noted that the current economic scenario continues to require stimulative monetary policy. The Copom emphasised that “the continuation of the process of necessary reforms and adjustments in the Brazilian economy is essential for maintaining low inflation in the medium and long terms, for the fall of structural interest rates and for the sustainable recovery of the economy”.