Central Bank slashes interest rates in response to Covid-19

. Mar 18, 2020
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The Brazilian Central Bank has just announced a 50 base-point cut to the country’s benchmark interest rate Selic, slashing it to a new record low of 3.75 percent. The decision was made according to the market’s expectations. 

The decision comes after the monetary authority said it was monitoring the impacts of Covid-19 outbreaks in the economy and follows other major central banks, such as the U.S. Federal Reserve, which has already slashed the country’s interest rates twice.

Natália Scalzaretto

Natália Scalzaretto has worked for companies such as Santander Brasil and Reuters, where she covered news ranging from commodities to technology. Before joining The Brazilian Report, she worked as an editor for Trading News, the information division from the TradersClub investor community.

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