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Brazil Reduces Selic by Another 0.75 Percentage Points

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The Brazilian Central Bank’s Monetary Policy Committee (COPOM) announced on Wednesday evening it was lowering its benchmark interest rate (Selic) by 0.75 percentage points, to 12.25 percent, the lowest level since March of 2015.

The decrease however was not a surprise, since this movement was already expected by the majority of economic analysts.

“The cut was in line with expectations given the country’s floundering economy and rapidly easing price pressures,” says Angela Bouzanis, Senior Economist at FocusEconomics . . .

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