Brazil likely to step up monetary easing to spur recovery

Brazil’s central bank is widely expected to speed up monetary easing on Wednesday, taking advantage of slowing inflation to try to revive an economy still struggling with its deepest recession on record.

All but one of the 47 economists polled by Reuters expected the bank to cut its benchmark Selic rate BRCBMP=ECI by 100 basis points to 11.25 percent – the lowest in nearly three years. One analyst forecasts a 125 basis-point cut.

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