Macroeconomy/Finance

BC reduces interest to 2% per year, the lowest level in history

The Copom (Monetary Policy Committee) from Brazilian Central Bank cut the basic interest rate (Selic) by 0.25 percentage points, from 2.25% to 2% per year. This is the lowest level since the beginning of the historical series in 1996. The decision was unanimous and came as expected by most market analysts.

Source: UOL Economia