Brazil Central Bank Sees No Room to Cut Rates as Inflation High

Brazil’s central bank sees no room to cut interest rates as uncertainty over public spending and the global economy increases risks to still-high inflation.

The central bank board, led by its President Alexandre Tombini, kept the key rate unchanged at 14.25 percent last week for the sixth straight meeting, as forecast by all 50 analysts surveyed by Bloomberg. Unlike the previous three gatherings, when two policy makers voted for an increase, the decision to hold was unanimous.