RIO DE JANEIRO, BRAZIL - The SELIC stands at three percent per year and the Central Bank has already signaled that it will further cut it by up to 0.75 points, which would bring the interest rate down to a historic low of 2.25 percent.

Fabio Kanczuk, the Central Bank's director of economic policy, said on Wednesday that the 2.25 percent SELIC rate is not something written in stone or something permanent that cannot be crossed.

Speaking at a virtual event promoted by the American Chamber of Commerce, he said this rate is much more tied to . . .

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