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Brazil Central Bank Statement on Interest Rate Decision (Text)

March 7 (Bloomberg) -- Following is a translation of the statement by Brazil’s central bank on its interest rate decision today.

“Giving continuity to the adjustment process of monetary conditions, the Copom decided to reduce the Selic rate to 9.75 percent a year, without bias, by five votes in favor and two votes for the reduction of the Selic rate by 0.5 percentage points.”

To contact the reporters on this story: Matthew Bristow in Brasilia at mbristow5@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net

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