Banco Central do Brasil: "That's not a rate cut, THIS is a rate cut!"
50bps cut from Brazil's central bank.
- decision was unanimous
- consolidation of benign inflation outlook should give room for additional policy stimulus
- says economic data since last meeting consistent with gradual recovery
- global economic outlook uncertain, risks of greater slowdown persist
- underlying inflation at comfortable levels
- sees inflation moving back to target over the relevant time horizon, which includes 2020 calendar yearbut sees inflation risk in both directions
Headlines via Reuters
Cut to 5.5%, which I think is the lowest seen in Brazil?
