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08 Feb 2018, Paulo Dias, EMIS Editor

Brazilian Central Bank: Selic has a new record low of 6.75%

The Brazilian Central Bank´s Monetary Policy Council (Copom) announced, on Wednesday, a cut on the policy rate (Selic) by 0.25% to a new record low of 6.75% on year. This is the seventh consecutive cut, which was, nonetheless, expected by the market. The lowest rate had been 7.25% in October 2012.

According to CEEMarketWatch, the Brazilian Central Bank´s announcement also pointed that the monetary easing cycle is in consistency with its inflationary target, including the years 2018 and 2019. The Central Bank highlighted that inflation remains favorable, with a projection near 4.2% for 2018 and 2019.

In terms of economic activity, the Brazilian Central Bank informed that it has demonstrated evidences that are compatible with the progressive recovery of the country´s economy.

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