Brazil Central Bank Cuts Rates to 13.75 Percent
Brazils central bank lowered its benchmark interest rate by 25 basis points to 13.75 percent amid signs of a slowing economy. Policymakers kept their options open for upcoming meetings as the presidential election approaches.
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Brazil's central bank lowered the Selic rate by 25 basis points to 13.75% on Wednesday afternoon, delivering its fifth straight reduction amid slowing economic momentum. The unanimous decision matched expectations from 48 of 51 economists polled. Policymakers kept future easing options open ahead of a tight presidential election.
