May 31, 2017 / 9:14 PM / a year ago

Brazil cuts rates to 3-yr low despite political uncertainty

BRASILIA, May 31 (Reuters) - Brazil’s central bank cut interest rates to a more than three-year low on Wednesday despite a political crisis threatening government efforts to plug a widening fiscal gap that has plunged the country into recession.

The bank’s nine-member monetary policy committee, known as Copom, cut its benchmark Selic rate by 100 basis points for the second straight time to 10.25 percent. It was the lowest the Selic has been in more than three years. (Reporting by Alonso Soto and Silvio Cascione; Editing by Sandra Maler)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below