December 8, 2017 |
Brazil's central bank said it reduced its monetary policy rate, Selic, by 50bp to 7%.
The bank's committee, COPOM, voted unanimously in favor of the cut, stating that "inflation developments remain favorable, with various measures of underlying inflation running at comfortable or low levels."
While COPOM forecasts inflation of 2.9% for 2017, 4.2% for 2018 and 4.2% for 2019, it noted possible risks in both directions.
Economics consultancy firm Capital Economics believes the central bank is eith
Central bank lowers the Selic 50bp to 7%