By Lise Alves, Senior Contributing Reporter
SÃO PAULO, BRAZIL – For the first time in four years, Brazil's Central Bank Monetary Policy Committee (Copom) reduced the country’s benchmark interest rate (Selic). The reduction of 0.25 percentage points to fourteen percent per year is expected to be the beginning of a reduction cycle for the Selic.
“Taking into account the baseline scenario, the current balance of risks, and the wide array of available information, the Copom decided to reduce the Selic rate to fourteen percent per year, without bias. The Committee judges that convergence of inflation to the . . .