Brazil slows monetary easing, cuts rates to 7.5 percent

BRASILIA (Reuters) – Brazil’s central bank reduced the pace of monetary easing on Wednesday, taking its benchmark rate near an all-time low as the economy starts to emerge from a deep recession.

The bank’s nine-member monetary policy committee, known as Copom, cut the benchmark Selic rate by 75 basis points to 7.50 percent, after four consecutive cuts of 100 basis points. The decision was widely expected by economists polled by Reuters.

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