Brazil Central Bank Keeps Rate Cut Pace as Uncertainty Looms

Brazil’s central bank kept the pace of monetary easing and signaled future rate cuts may not be as aggressive amid a fresh political crisis that has rocked the country.

The bank’s board led by President Ilan Goldfajn reduced the benchmark Selic rate by a full percentage point to 10.25 percent on Wednesday, as forecast by 43 of 47 analysts surveyed by Bloomberg. Three economists estimated a 75 basis-point cut, and one expected a 125 basis-point reduction.

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