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LatinNews Daily - 19 March 2020

In brief: Brazil’s central bank cuts interest rates

* The monetary policy committee (Copom) of Brazil’s central bank (BCB) has cut the country’s benchmark interest rate (Selic) by half a percentage point, to 3.75%. A cut had been widely anticipated amid drastic rate cuts by central banks worldwide in attempts to mitigate the economic impact of the coronavirus (Covid-19) pandemic, although the 0.5-point reduction in the Selic was higher than predicted. The Copom stressed the necessity of stimulative monetary policies under the current economic scenario.

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