Brazil cuts its benchmark interest rate to an all-time low

Brazil’s central bank cut its key interest rate by a quarter point to an all-time low and didn’t rule out additional reductions as policy makers seek to stimulate an economy ravaged by the coronavirus pandemic.

The central bank, led by its President Roberto Campos Neto, on Wednesday lowered the benchmark Selic to 2% following back-to-back reductions of 75 basis points, as forecast by 33 of 37 economists in a Bloomberg survey. The other four analysts expected borrowing costs to remain steady.


By Mario Sergio Lima via Al Jazeera


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