Brazil set to keep aggressive pace of rate cuts to salvage economy

Brazil’s central bank will likely maintain its aggressive pace of interest rate cuts on Wednesday despite some calls to further step up monetary easing to rescue an economy mired in recession.

The bank’s 9-member monetary policy committee, known as Copom, will likely cut its benchmark Selic rate BRCBMP=ECI by 75 basis points to 12.25 percent, according to all but one of the 54 economist surveyed by Reuters last week.

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