The Brazilian Central Bank on Wednesday night reduced its base interest rate for the fourth time in a row, slashing 75 points for a new rate of 12.25 percent. The move was widely expected. The vote by the bank’s monetary committee was unanimous. In announcing the decision, the bank said the outlook for inflation control remained “favorable.” Inflation recently dipped below 6 percent with expectations for calendar year inflation in 2017 of about 4.5 percent. Meanwhile, the bank continued to express worries about economic activity along with hopes that a modest, gradual recovery will gain strength through the year.
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