Brazil makes unexpected cut to base rate

The central bank of Brazil's Copom monetary policy committee has cut its main interest rate to by 1.5 per cent. The Copom said in a statement that the decision to cut the selic to 17.5 pct, with no bias, was based on its positive assessment of the inflation outlook.

Source: AFX

The central bank's monetary policy committee (Copom) said it decided to cut its benchmark Selic rate to 17.5 pct from 19 pct at its regular meeting.

The decision was unexpected and was not unanimous.

Only one analyst --

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