brazil-currency-weakness-halts-the-interest-rate-cuts

Brazil's central bank kept the Selic rate at 6.50% at its 16 May meeting, ending a run of twelve consecutive cuts, against consensus expectations of a 25 bps cut. The decision followed a sharp 12% fall in the real against the dollar since March, which shifted the balance of risks toward higher inflation.

The bank signaled the rate would be held steady, marking the end of the easing cycle.