LatinNews Daily - 08 December 2022

* Brazil’s central bank (BCB) has held the country’s benchmark interest rate at 13.75%, noting that “the global environment remains adverse and volatile, marked by prospects of below-potential global growth for next year, high volatility of financial assets and continued pressure from the inflationary environment.” Alluding to current market uncertainty over the fiscal plans of leftist President-elect Luiz Inácio Lula da Silva, the BCB statement also highlighted “heightened uncertainty about the country’s future fiscal framework and additional fiscal stimuli”. Annual inflation in Brazil stood at 6.47% in October, down from 7.17% in September but still the target set by BCB of 3.5% +/- 1.5 for 2022.

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