Brazil steps up rate cuts to boost economic recovery

Brazil slashed interest rates to their lowest in over two years on Wednesday, accelerating the pace of its rate-cutting cycle to revive an economy still reeling from its deepest recession ever.

In a unanimous vote, the central bank’s 9-member monetary policy committee, known as Copom, decided to lower its benchmark Selic rate by 100 basis points to 11.25 percent. That marked the biggest reduction since June of 2009 and followed cuts at the last four meetings.

Read more

Categories: Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s