Central Banks
Brazil Central Bank Lowers Rate by Half Point, Sees More Cuts of Same Size
- Central bank delivers fourth straight 50-point cut, to 11.75%
- Annual inflation eased back within bank’s tolerance range
The Central Bank of Brazil in Brasilia.
Photographer: Andressa Anholete/BloombergThis article is for subscribers only.
Brazil’s central bank cut its key interest rate by half a percentage point and cued more reductions of the same size into 2024 as inflation eases toward target while the global economic outlook improves.
Policymakers led by Roberto Campos Neto lowered the Selic to 11.75% late on Wednesday as expected by all analysts in a Bloomberg survey. Board members have now reduced borrowing costs by 2 percentage points since August.