Brazil Central Bank keeps interest at 6.5% a year

For the second consecutive time, the Brazilian Central Bank did not change the economy’s benchmark interest rate. The Monetary Policy Committee unanimously decided to hold the Selic rate at 6.5% a year Wednesday (Jun. 20). The decision had been expected by analysts.

In a note, the committee argued that the strike staged by truck drivers brought about uncertainties that make gauging the outlook for the economy more difficult.

“The stoppages in the freight sector in May make the readout on the recent economic activity difficult. Data on April suggest more consistent activity than in previous months. However, indicators on May and possibly June will likely reflect the effects of said stoppages,” the text reads.