Brazil slows pace of easing

The Central Bank of Brazil cut its key interest rate for the third time this year to a record low of 10.25% on Wednesday.

Copom, the central bank's rate-setting board, voted unanimously to cut the benchmark Selic, from 11.25% to 10.25%. In March, the central bank cut by 150 basis points - the steepest cut in five years, following a percentage-point cut in January. The cut was in line with market expectations.

The slowdown in the pace of easing may in part reflect a slightly more positive growt

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