LatinNews Daily - 06 February 2020

* The monetary policy committee (Copom) in Brazil’s central bank (BCB) has held its first meeting of 2020, following which it decided to cut the Selic, the country’s benchmark interest rate, by 0.25 percentage points, to a new record low of 4.25%. This is the fifth consecutive time that the Copom has reduced the Selic, but the BCB’s statement indicates that it plans to end the cycle of interest rate cuts. “The committee sees the interruption of the monetary easing process as appropriate,” the statement reads. The Copom also noted the good progress of reforms and adjustments to the Brazilian economy, but emphasised that the government must persevere in its agenda to guarantee sustainable economic recovery.

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