Brazil Central Bank Lowers Selic Rate to 14.75 Percent
Brazil cut the Selic rate to 14.75 percent Wednesday to start an easing cycle. Officials cited oil price volatility and global inflation for the cautious move.
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The central bank of Brazil has commenced a long-awaited cycle of monetary easing with a cautious 25-basis-point reduction to its benchmark interest rate. The decision, announced on Wednesday, comes as an oil price shock linked to the conflict involving the United States, Israel, and Iran has intensified global inflationary pressures.
