Brazil ups pace of easing as inflation drops
The Central Bank of Brazil has surprised analysts with a larger rate cut than many expected, "frontloading" monetary easing as inflation comes in lower than expected.
The monetary policy committee voted unanimously for a 75-basis point cut, taking the headline rate to 13%. The move follows 25bp cuts in October and December.
The central bank said the improved inflation outlook warranted an "intensification of the ongoing monetary easing process", hinting at the possibility of further cuts to come
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