Brazil central bank weighs new rate cut to unprecedented low of 7.25%
AFPBRASILIA--Brazil's central bank met Tuesday to weigh a 10th interest rate cut to a record low of 7.25 percent in order to stimulate the sluggish economy.
October 11, 2012, 12:11 am TWN
Analysts predicted that the bank's monetary policy committee (Copom) will wind up its meeting Wednesday with the announcement of a quarter-percentage point cut following a bank forecast of 1.6 percent growth in Brazil's GDP.
“We expect a quarter-percentage point cut at the (Copom) meeting which ends Wednesday,” said economist Felipe Queiroz of the Brazilian agency Austin Rating.