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Brazil Cuts Interest Rate to 6.75 Percent, Lowest in History

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Brazil’s Central Bank (BC) announced on Wednesday it was lowering the country’s benchmark interest rate (Selic) for the eleventh consecutive time, by 0.25 percentage point, from 7 percent to 6.75 percent a year. With the reduction, the Monetary Policy Committee (Copom) has placed the Selic at its lowest level in history.

In a note released immediately after the Selic announcement, however, the Copom stated that if the current scenario holds and the much-needed reforms are not approved by Congress in the next 40 days, the . . .

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