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Brazil & Southern Cone - October 2005 (ISSN 1741-4431)
BRAZIL: Copom cuts by 0.5%
The central bank's monetary policy committee (Copom) cut the basic interest rate, the Selic, by half a percentage point on 19 October. A lower interest rate should pep up the domestic economy and boost demand. Significantly, the cut came as retail sales fell for the first time in six months. In August, retail sales were 0.38% down on July.
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