February 7, 2018 / 8:31 PM / 8 months ago

Brazil cuts interest rate to all-time low, signals end of easing

BRASILIA, Feb 7 (Reuters) - Brazil’s central bank cut interest rates to an all-time low on Wednesday, with a smaller reduction than in previous meetings, hinting at the end of the deepest easing cycle in a decade.

The bank’s nine-member monetary policy committee, known as Copom, cut the benchmark Selic rate by 25 basis points to 6.75 percent, capping a 750 basis-point decline since October 2016. The move was widely expected by economists in a Reuters poll. (Reporting by Bruno Federowski, Editing by Rosalba O’Brien)

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