Brazil cuts interest rates to 12.25 pct, keeps easing pace

Feb 22 Brazil’s central bank maintained the pace of interest rate cuts on Wednesday, resisting pressure to further step up monetary easing to pull Latin America’s economy out of its worst recession on record.

In a unanimous vote, the bank’s 9-member monetary policy committee, known as Copom, decided to lower its benchmark Selic rate by 75 basis points to 12.25 percent – its lowest since March of 2015. The decision was widely expected among analysts and market traders. (Reporting by Alonso Soto and Silvio Cascione; editing by Diane Craft)

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