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Brazil cuts rates to 8.25 percent, signals gradual end to easing

Brazil’s central bank slashed interest rates to a four-year low on Wednesday to spur an incipient economic recovery, but said the pace of monetary easing would probably be reduced next month as the bank prepared to gradually stop cutting rates.

The bank’s nine-member monetary policy committee, known as Copom, cut its benchmark Selic rate BRCBMP=ECI by 100 basis points for the fourth straight time to 8.25 percent. The decision was widely expected by economists in a Reuters poll.

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