Brazil Cuts Selic to 7.5 Percent, Second Lowest in History

COPOM members, however, signal slower cut rates in future meetings.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Brazil’s Central Bank lowered the country’s benchmark interest rate (SELIC) for the ninth consecutive time on Wednesday. The Monetary Policy Committee (COPOM) decided unanimously to lower the SELIC by 0.75 percentage points, to 7.5 percent per year, putting the rate at one of the lowest rates in history.

“The set of indicators of economic activity released since the last COPOM meeting is consistent with a gradual recovery of the Brazilian economy,” read the statement released by the Central Bank after the meeting.

With this latest reduction . . .

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