March 19, 2020
Brazil's central bank cut the benchmark Selic interest rate by 50 basis points to 3.75% on Tuesday, saying it reached the unanimous decision as "the environment for emerging economies has become challenging."
Last month, when the bank's monetary policy committee, or Copom, cut the Selic for the fifth time in a row to 4.25%, it said it was "appropriate" to stop lowering the rate for the time being. Since then, however, the spread of the coronavirus COVID-19 has caused markets to tumble around the
Central bank lowers the Selic by 50 bps to 3.75% in response to the economic fallout from the coronavirus outbreak