Brazilian central bank cuts rates to record low

centralbank-brazil
The Central Bank of Brazil

The Central Bank of Brazil’s monetary policy committee voted unanimously to cut its policy rate to its lowest-ever level on June 17.  

The committee lowered the Selic rate by 75 basis points to 2.25%, after cutting the rate by 75 basis points at its previous meeting. The monetary policy committee says in a statement there may be a limited timeframe to use further monetary policy cuts to buffer the economy, which has been badly affected by the coronavirus pandemic. 

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