Brazil cuts rates to new record low as inflation drops

Rater-setters reduce key Selic rate by 50 basis points to 5%

The Central Bank of Brazil
Photo: Central Bank of Brazil

The Central Bank of Brazil (BCB) reduced interest rates to a new record low today (October 30) on below-target inflation, protracted weak growth and high unemployment.

The monetary policy committee reduced the key Selic rate by 50 basis points to 5%. Inflation fell sharply last month, moving further away from the central bank’s policy goal. This is the third 50bp-rate cut since the BCB started the current loosening cycle in July.

In September, the IPCA benchmark inflation index rose year on

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.