Brazil central bank steps up pace of rate cuts

Central Bank of Brazil

The Central Bank of Brazil has cut the policy interest rate for the fifth consecutive time, bringing borrowing costs to their lowest level since November 2014.

In a statement on April 12, Brazil’s monetary policy committee (Copom) lowered the Selic rate 100 basis points to 11.25%, stepping up the pace of cuts as inflation expectations “remain favourable”.

The decision, which follows 75bp reductions in January and February, leaves the door open to changes in the pace of rate cuts in the near

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