Brazil's central bank decision:Kept the benchmark Selic rate unchanged at 15.0% in a unanimous decision (in line with Reuters poll).Removed reference to “continuation of the interruption” of the hiking cycle.Said it will remain vigilant and assess whether keeping rates at the current level for a prolonged period is sufficient to bring inflation back to target.Stressed that future policy steps can be adjusted and that it will not hesitate to resume rate hikes if needed.Highlighted monitoring of U.S. tariff announcements affecting Brazil and domestic fiscal policy developments impacting monetary conditions and financial assets.Noted inflation expectations remain de-anchored, inflation projections are high, and pressures persist from resilient economic activity and the labour market.Emphasised that de-anchored expectations demand a significantly contractionary policy stance for an extended period.Cited an uncertain global environment due to U.S. policy and economic outlook.Observed moderation in growth indicators as expected, but with continued strength in the labour market.Reported headline and underlying inflation remain above target.Concluded that risks to the inflation outlook remain elevated on both the upside and downside. This article was written by Eamonn Sheridan at investinglive.com.