Brazil central bank says stable interest rates to curb inflation

BRASILIA: Keeping interest rates at current levels will curb inflation in Brazil toward the official target, the central bank said in the minutes of its last rate-setting meeting released on Thursday.

The bank last week kept its benchmark Selic rate on hold at 11 percent for the third straight time even after the economy fell into recession, signaling it will keep borrowing costs stable for some time to battle inflation.