Brazilian CB holds key rate despite inflation

Source: Bloomberg
© Scanpoix/Reuters
The Central Bank of Brasil decided to keep the main interest rate unchanged. The borrowing costs remained at 11% level, fully matching all economists' forecasts. The inflation level in the country in rising, however, the slowing economic growth limits opportunities for any changes. In total, during the last year through April 2014, the CB of Brazil raised the rate by 375 basis points.
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