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Brazil Central Bank Statement on Interest Rate Decision (Text)

Following is a translation of the statement by Brazil’s central bank on its interest rate decision today.

“The Copom considers that, at this moment, the risks for the inflation trajectory remain limited. The committee also notes that, until now, given the fragility of the global economy, the contribution of the external sector has been disinflationary.

Given this, and continuing the adjustment process of monetary conditions, the Copom decided, by a unanimous vote, to reduce the Selic rate to 9 percent per year, without bias.”

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