Brazil cuts rates to record low 4.50%, flags cautious approach

Brazil’s central bank cut its benchmark Selic interest rate to an all-time low of 4.50% on Wednesday, but indicated that with borrowing costs so low and economic growth starting to pick up, it may mark a pause in the easing cycle, if not the end.

The unanimous decision by the bank’s nine-person rate-setting committee, known as Copom, was the fourth such move in a row, in line with the expectations of all 30 economists surveyed in a Reuters poll.

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