Brazil cuts interest rates to record low of 7%Staff Writer | December 7, 2017
Policymakers at the Brazilian central bank on Wednesday cut the benchmark Selic rate by 50 basis point to a historic low of 7 per cent as inflation continues to drop while the economy inches forward from a brutal recession.
LatAm Selic rate
Lower rates coupled with low inflation — down to 2.7 per cent in October from over 10 per cent early last year — are helping Brazil’s economy emerge from its worst-ever recession.
In the third quarter, gross domestic product eked out a 0.1 per cent quarter-on-quarter gain and grew 1.4 per cent versus the same period last year. ■