(MENAFN)
The Brazilian benchmark interest rate Selic was cut by the Monetary Policy Committee (Copom) of Brazil's Central Bank on Wednesday from 6 percent to 5.5 percent.
A second cut was approved by the Copom of 50 basis points in the rate after the first cut in July, the Selic rate saw a loss of 1 percent this year and hit a new low record.
Brazilian financial institutions economists expected that the Selicrate would see a further cut in 2019, reaching 5 percent and staying at that level in 2020.
Latest economic activity indicators signal the improvement of the Brazilian economy, which will be a gradual process.
MENAFN1909201900450000ID1099025250
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.