Brazil offers scant explanation for rate cut


The Monetary Policy Committee (MPC) at the Central Bank of Brazil on Wednesday cut the country's benchmark interest rate, known as the Selic rate, to 11.5% from 12%.

In a short statement, the policy-makers said they acted to "mitigate the effects" of a "more restrictive global environment". When pressed, a spokesperson told that "everything will be clarified in the official document [the Copom´s Ata] that summarises the entire meeting". The document will be published on

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