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Non-Tech : The Brazil Board
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To: richardred who wrote (2066)3/1/2020 1:59:16 AM
From: elmatador   of 2508
 
The Central Bank's Copom (Monetary Policy Committee) reduced basic interest rates (Selic) by 0.25 percentage points, from 4.5% to 4.25% per year.

It is the lowest level since the beginning of the historical series, in 1996. It was the fifth consecutive cut and the decision was unanimous
...
Selic cut cycle started in 2016 In October 2016,

CB started a sequence of 12 Selic cuts.

In this period, the interest rate fell from 14.25% per year to 6.5% per year.
From May 2018 to June 2019, the rate was kept at the same level. There were ten Copom meetings without changes in the Selic.
At the end of July last year, the Copom reduced the Selic rate by 0.5 percentage point, to 6% per year. The last cut was made in December, from 5% to 4.5% per year
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