Brazil’s Central Bank on Wednesday cut its base interest rate for the 12th time in a row, this time by 25 basis points to an all-time low of 6.5%. The decision by the bank’s Monetary Policy Committee was unanimous. The bank said the cut was made possible by tame inflation. Brazilian inflation is currently running below 3.0%. In a brief statement, the bank hinted at another cut in May, when the committee meets next. Lower interest rates are expected to help propel Brazil’s economic recovery. Brazilian gross domestic product is expected to grow about 3% this year, after growth of only 1% in 2017.
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