Brazil Interest Rate Cut as Growth Slows

By Lucy Jordan, Contributing Reporter

BRASÍLIA, BRAZIL – Brazil cut its benchmark Selic interest rate to a record low of eight percent Thursday, in an attempt to boost an economy that has continued to falter in the face of various stimulus measures. The 0.5 percent cut was the eighth consecutive reduction from the central bank's monetary policy board (Comitê de Política Monetária), known as Copom, since August 2011, when the rate stood at 12.5 percent.

“The economy of Brazil is slowing in the short run as the government is tightening fiscal policy, commodity prices are . . .

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