By Lise Alves, Senior Contributing Reporter
SÃO PAULO, BRAZIL – As predicted by economists, Brazil’s Central Bank lowered the country’s benchmark interest rate (SELIC) for the fifth consecutive time on Wednesday. The Bank’s Monetary Policy Committee (COPOM) decided unanimously to reduce the SELIC by one percentage point to 11.25 percent, the largest reduction taken in eight years.
“The Central Bank’s decision to slash the SELIC rate to 11.25 percent was widely expected as rapidly easing inflation has given the Bank space to ease monetary policy to support an economic recovery,” Angela Bouzanis, Senior Economist . . .