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Economy & Business - October 2011 (ISSN 1741-7430)

BRAZIL: Showing its difference

On 19 October the Brazilian central bank’s monetary policy committee (Copom) voted unanimously to cut the benchmark Selic interest by 50 basis points (bps) to 11.5% (without bias). This was the bank’s second successive reduction. The first was at its meeting on 31 August. In its previous five meetings the same committee had increased rates by 175bps, on the grounds that it needed to control inflation.

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