SAO PAULO, Sept 16 (Reuters) – Brazil’s central bank on Wednesday cut its benchmark interest rate by 25 basis points, delivering a fifth consecutive rate reduction as signs of an economic slowdown strengthened ahead of next month’s presidential election.
The central bank’s rate-setting committee, Copom, unanimously lowered the Selic rate to 13.75%, in line with the expectations of 48 of 51 economists polled by Reuters. The remaining three had forecast no change.
(Reporting by Marcela Ayres; Editing by Isabel Teles)
