Late on Wednesday, policymakers unanimously agreed to raise borrowing prices to 11.25%, as most experts in a Bloomberg survey had predicted.
The monetary policy rate, according to the Board, "has achieved its maximum level of the cycle that began in July 2021.
That it will remain there for as long as required to guarantee the convergence of inflation to the goal throughout the two-year policy horizon," they stated.
After the inflation rate declined for the first time in 19 months in September.
The bank led by Rosanna Costa ended a tightening cycle that had increased borrowing prices by 10.75 percentage points since July 2021.
Even while economic activity has performed better than anticipated and the peso has fallen, fuel price hikes have eased.