Brazil slashes benchmark rate again

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The Central Bank of Brazil late on April 18 released the customary short statement announcing the rate-setting committee's latest monetary policy decision. The Copom unanimously agreed on a 75-basis-point cut to the benchmark Selic rate, taking it from 9.75% to 9%.

Brazil has been steadily lowering its benchmark rate in recent months and this latest cut was widely anticipated. However, the monetary policy committee did raise eyebrows by striking a more dovish tone in the comments accompanying

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