Central Bank of Brazil cuts rate by 50bp

Copom says it expects to do the same at its next meeting in May

Central Bank of Brazil

The Central Bank of Brazil’s (BCB) monetary policy committee, known as Copom, cut its headline rate by 50 basis points on March 20 to 10.75%. 

The bank said it anticipates another cut of the same magnitude at its next meeting in May in a prepared statement.

All nine voting members of Copom voted in favour of the rate cut. The BCB has been cutting the benchmark Selic rate gradually since August. 

Inflation, measured by the national consumer price index, was 4.5% year on year in February. It has

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