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Brazil’s Central Bank cuts Selic to 12.75%, announces further cuts

Brazil’s Central Bank cuts Selic to 12.75%, announces further cuts

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SÃO PAULO — Brazil’s central bank cut its benchmark Selic interest rate by half a percentage point as planned and reiterated its intention to make further reductions of the same magnitude at future meetings.

The bank’s monetary policy committee, or Copom, lowered the Selic to 12.75%. This is the second consecutive meeting that ended with a half-point cut and left the lending rate at the lowest since June 2022.

THE…

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Eleon

With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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