Central bank of Brazil cuts base rate to 19%

Brazil's central bank announced on Wednesday 22 October that it cut the Selic base rate to 19 per cent after its two-day meeting. A Copom statement said that the cut was made because inflation is falling into line with targets.

Source: AE Brazil

The Brazilian Central Bank's monetary policy committee (Copom) announced Wednesday evening that it had cut Selic (base rate) one percentage point to 19% after its monthly two-day meeting.

The committee set no bias.

This was the fifth reduction in a row to

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