Brazilian Central Bank cut interest rate by 0.50

The Central Bank’s Copom (Monetary Policy Committee) at the basic interest rate (Selic) at 0.50 percentage point, from 4.25% to 3.75% per year. It is the lowest level since the beginning of the historical series, in 1996. The decision was unanimous. The Central Bank explains that the current situation calls for caution in the conduct of monetary policy and, therefore, sees the new Selic reduction as “adequate”. This was the sixth consecutive cut, the second announced this year, and comes amid concerns about the effects of coronavirus worldwide.

Source: UOL Economia