Brazil’s Central Bank Reduces Benchmark Interest Rates

This is the second consecutive reduction of the country's interest rate by the country's Monetary Policy Committee.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – In a unanimous decision, Brazilian Central Bank’s Monetary Policy Committee (Copom) announced Wednesday, November 30th, it was reducing the country’s benchmark interest rate (Selic) for the second consecutive month, by 0.25 percentage points to 13.75 percent a year. The decision received criticism from economic entities.

“Recent inflation was more favorable than expected, partly as a result of declining food prices, but also with signs of more widespread disinflation,” said the Copom statement released after the meeting.

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