Brazil's c bank calls extraordinary Copom meeting

BRAZIL - Brazil's Central Bank called Monday an extraordinary meeting of its interest rate-setting Monetary Policy Committee (Copom), two weeks before presidential elections and amid a currency crisis that is fanning inflation and whipping the economy.

Brazil's beleaguered real currency dropped 3 percent to 3.94 per dollar after the bank called the meeting Reuters reported, and stocks slumped as traders feared the bank would raise rates to stem inflation. The currency has lost about 40 percent

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