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Brazil Cuts Rates to 6% Amid Weak Growth,....>

BRAZIL: Brazil Cuts Rates to 6% Amid Weak Growth, Signals Further Easing (BBG)
- Brazil cut its benchmark interest rate by half a percentage point amid a
gloomy economic outlook, joining a wave of monetary easing worldwide, and
signaled that a benign inflation outlook should allow for further easing.
- In a unanimous decision, the bank's board, led by its President Roberto Campos
Neto, lowered the benchmark Selic to 6% on Wednesday, as expected by 18 of 45
economists in a Bloomberg survey. The majority of the remaining analysts
forecast a quarter-point cut. It was the first reduction in borrowing costs in
over a year.
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