Brazil delivers rate cut amid rising inflation expectations
Copom says that both inflation and expectations are rising above its 3% target
The Central Bank of Brazil (BCB) has cut rates by 25 basis points for the second consecutive time amid inflationary pressures driven in part by the war in Iran.
The bank’s monetary policy committee, known as Copom, voted unanimously on April 29 to lower the benchmark Selic rate to 14.5%. In a statement, the bank said there was a “lack of clarity” regarding the “duration, extent and unfolding of geopolitical conflicts in the Middle East, with repercussions on global financial conditions”.
“This
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