Brazil central bank cuts rates by 50 bps in second straight decision

After kicking off the easing cycle with a split decision in August, the bank’s rate-setting committee, called Copom, voted unanimously to cut its benchmark Selic rate to 12.75%, in line with the expectations of all 48 economists surveyed by Reuters.

Reuters

September 21, 2023 / 06:55 IST

Brazil central bank cuts rates by 50 bps in second straight decision

Brazil’s central bank cut its benchmark interest rate by 50 basis points on Wednesday, as it signaled last month, and flagged further reductions of the same magnitude ahead.

After kicking off the easing cycle with a split decision in August, the bank’s rate-setting committee, called Copom, voted unanimously to cut its benchmark Selic rate to 12.75%, in line with the expectations of all 48 economists surveyed by Reuters.

Reuters

first published: Sep 21, 2023 06:52 am

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