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Brazil poised to step up rate cuts to pull economy out of recession

Jan 11 Brazil’s central bank will likely step up its pace of interest rate cuts on Wednesday as policymakers scramble to rescue the country’s once-vibrant economy from the worst recession on record as it threatens to stretch into a third year.

Fifty out of 54 analysts polled by Reuters expect the central bank to cut the benchmark Selic rate by 50 basis points to 13.25 percent after two straight cuts of 25 basis points. Three economists surveyed expect a more aggressive cut of 75 basis points while one is betting on a 25-basis-point decrease.

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