Brazil makes first interest rate cut in four years

Central Bank of Brazil
The Central Bank of Brazil

The Central Bank of Brazil's monetary policy setting committee – Copom – voted unanimously to reduce interest rates yesterday (October 19, its first cut for four years).

In a statement, the Brazilian central bank said improved inflation data had pushed the committee into action, cutting interest rates by 25 bps to 14% with the possibility of further easing moving forwards.

The "magnitude" of monetary easing and a "possible speeding up" of its pace will depend on the "favourable evolution" of

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