Brazil’s Central Bank voted unanimously on Wednesday night to reduce the nation’s base interest rate by 25 points to 6.75%, its lowest level ever. It was the 11th base rate cut in a row. But in a brief statement, the bank hinted that the “balance of economic factors” favors a pause in monetary loosening starting in March. Both the cut and the likely pause were expected by market analysts. Brazilian inflation is currently tame at about 3.0% with a broad economic recovery in course.
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