Brazil's central bank has held its benchmark interest rate at 10.75 percent. It ends a monetary tightening cycle, that helped cool the red-hot economy, as the country gears up for a presidential election.
Policymakers were expected to keep the so-called Selic rate on hold, at the conclusion of a two-day monetary policy meeting. The Central bank has lifted the Selic rate by 200 basis points since April, when the rate stood at an all-time low of 8.75 percent.
But with the economy cooling from its torrid pace in the first quarter and inflation slowing, analysts see room for the bank to hold rates steady through the end of the year.