SAO PAULO, June 17 (Reuters) - Brazil’s central bank cut its benchmark interest rate by 75 basis points on Wednesday to a record-low 2.25%, as expected, in a move to cushion what may be the country’s worst economic crash on record.
The bank’s rate-setting committee, known as Copom, said its decision was unanimous, citing the economic shock from the COVID-19 pandemic. A Reuters survey of 38 economists earlier this month had forecast a second consecutive rate cut of 75 basis points. (Reporting by Jamie McGeever Editing by Brad Haynes)
Our Standards: The Thomson Reuters Trust Principles.