Brazil central bank cuts benchmark rate to 20 pct

The central bank of Brazil's Copom committee lowered the benchmark Selic rate by 2 percent to 20 percent on Wednesday. The central bank said the decision was unanimous.

Source: AFX Europe

The central bank's monetary policy committee (Copom) said it decided to cut its benchmark Selic rate to 20 pct from 22 pct at its regular meeting.

The central bank said the decision was unanimous.

According to forecasts compiled by AFX News, 24 economists out of 35 expected the Selic rate to be cut by 200 basis

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