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Brazil cuts rates to all-time lows, nears end of easing cycle
December 6, 2017 / 8:34 PM / 7 days ago

Brazil cuts rates to all-time lows, nears end of easing cycle

SAO PAULO, Dec 6 (Reuters) - Brazil’s central bank cut interest rates to an all-time low on Wednesday as it prepared to end the deepest cycle of rate cuts in a decade.

The bank’s nine-member monetary policy committee, known as Copom, cut the benchmark Selic rate by 50 basis points to 7.00 percent, capping a 725 basis-point decline since October 2016. The move was widely expected by economists in a Reuters poll. (Reporting by Bruno Federowski; Editing by Susan Thomas)

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