Latin America roundup: Brazil makes second 50bp rate cut

Paraguay eases rates down, while Costa Rica holds as negative inflation continues

Central Bank of Brazil
Central Bank of Brazil

Brazil: The Central Bank of Brazil (BCB) continued unwinding its tight monetary policy with a 50 basis point cut announced on September 20. The decision is the second consecutive 50bp cut and brings the benchmark Selic rate to 12.75%.

The central bank’s board – which is also the monetary policy committee – began easing monetary policy at its August meeting, voting 5–4 for a 50bp reduction. The minority had favoured a smaller 25bp cut. All nine members of the board voted for a 50bp decrease at

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