Brazil cuts rates to all-time low, hints at smaller Feb cut

Brazil’s central bank cut interest rates to an all-time low on Wednesday and hinted at a smaller reduction early next year, although it said it would be extra cautious going forward.

The bank’s nine-member monetary policy committee, known as Copom, cut the benchmark Selic rate by 50 basis points to 7.00 percent, capping a 725 basis-point decline since October 2016. The move was widely expected by economists in a Reuters poll.

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