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By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – After the controversy involving the decision by Brazil’s Monetary Policy Committee (COPOM) to maintain the country’s benchmark interest (Selic) rate at 14.25 percent, financial institutions surveyed by Brazil’s Central Bank decreased their forecast for the Selic for the end of the year from 15.25 percent to 14.64 percent.

Analysts were expecting the COPOM to increase the Selic by 0.5 percentage points to 14 . . .

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