Brazilian central bank cuts rate by 50bp again

Third consecutive 50bp rate cut enjoys unanimous support

Central Bank of Brazil

The Central Bank of Brazil (BCB) cut interest rates by 50 basis points for the third consecutive time at its monetary policy meeting on November 1.

The decision was supported by all members of the central bank’s monetary policy committee. The key Selic rate stands now at 12.25%. The BCB started to lower rates in August, when they stood at 13.75%.

Additionally, the central bank said it intends to keep lowering rates at this rhythm over the next months. The committee said in its policy statement

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