通胀还没压到3%，巴西维持15%基准利率

Core Points - The Central Bank of Brazil's Monetary Policy Committee (Copom) decided to maintain the benchmark interest rate (Selic) at 15%, with unanimous agreement among committee members [1] - The global economic environment remains uncertain due to factors such as U.S. economic policies, impacting financial markets, particularly in emerging economies [3] - Brazil's domestic economic conditions are characterized by expected volatility, higher-than-expected inflation, strong economic activity, and a robust labor market [3] - The Central Bank forecasts inflation rates of 4.8% and 4.3% for 2025 and 2026, respectively, and 3.4% for the first quarter of 2027, all exceeding the official target of keeping inflation below 3% [3] - As of August 2025, Brazil's year-on-year inflation rate was 5.13%, remaining above 5% since February 2025 [3] - The Central Bank will continue to monitor U.S. tariffs on Brazil and domestic fiscal policy developments, which may influence monetary policy and financial assets [5] - The current benchmark interest rate is at its highest level in nearly 20 years, with the next monetary policy meeting scheduled for early November [6]