< Go back

19 Apr 2012

Brazil cuts interest rate to 9%

It was the sixth rate cut in the past eight months

Brazil's central bank again cut its benchmark interest rate by 75 basis points to 9 percent - the sixth rate cut in the past eight months.

The bank's monetary policy committee justified the new cut by citing the "limited risk" to further inflation.

The government, markets and analysts had expected the central bank would opt for a rate cut, given that inflation is on the wane in Latin America's largest economy and the need to help rein in the cost of credit for Brazilians.