SÃO PAULO—Brazil’s central bank left its benchmark lending rate unchanged Wednesday and reiterated it won’t hesitate to resume tightening if inflation doesn’t slow as expected. The bank’s monetary policy committee, known as the Copom, left the Selic rate at the six-year high of 13.75%, where it has been since August of last year. The bank began raising the rate early in 2021 to try to slow inflation, which hit an almost 19-year high of 12.13% last April. The...

BRASÍLIA—Brazil’s central bank unexpectedly left its benchmark interest rate unchanged Wednesday, citing volatility in foreign financial markets, and signaled the possible end to a 19-month streak of rate cuts. The bank left its benchmark Selic rate at a record low of 6.5%, after indicating at its previous meeting that it would cut at least once more. It was the first time in 13 meetings that the bank didn’t trim the Selic. Signs of a strengthening American economy are reinforcing the...