Brazil central bank cuts key rate to record low
SÃO PAULO–Brazil’s central bank cut its benchmark interest rate by a half point Wednesday, as inflation has remained below target amid increasing signs the economy is improving.
The bank cut the benchmark Selic rate to 4.5%, a record low that follows a series of reductions that brought it down from 14.25% in 2016. In its post-meeting statement, the bank was less clear about its next step than in previous statements, but indicated it’s open to continue cutting rates next year.
By Paulo Trevisani via Market Watch