The Central Bank of Brazil leaves its key rate unchanged at 13.75%

Brazil’s central bank left its benchmark lending rate unchanged, but again warned it was ready to resume hikes if the country’s inflation did not continue to ease as expected.

The bank’s monetary policy committee, known as Copom, left its key Selic rate at 13.75% for the second straight meeting. The committee had raised the rate in 12 consecutive meetings before the September conclave, lifting the Selic from an all-time high of 2%. The Copom said it was ready to raise its rates again if the situation were to change.