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The Central Bank of Brazil voted unanimously to trim its key Selic rate by 50 bps to 5.0 percent during its October meeting. It was the third consecutive rate cut bringing borrowing costs to its lowest on record, amid the global economic slowdown and a more gradual pace of recovery than expected, as underscored in the latest press release. Policymakers deemed that the consolidation of the benign scenario for prospective inflation should permit additional adjustment of the same magnitude and added that the next steps in the conduct of monetary policy will continue to depend on the evolution of economic activity, the balance of risks, and on inflation projections and expectations.

The Central Bank of Brazil voted unanimously to trim its key Selic rate by 50bps to 5.50 percent during its September meeting, as widely expected. It is the second consecutive rate cut bringing borrowing costs to its lowest on record, amid the global economic slowdown and as key domestic reforms continue to move forward. Policymakers deemed that the consolidation of the benign scenario for prospective inflation should permit additional adjustment of the degree of stimulus and added that the next steps in the conduct of monetary policy will continue to depend on the evolution of economic activity, the balance of risks, and on inflation projections and expectations.

The Central Bank of Brazil voted unanimously to lower its key Selic rate by 50bps to a record low of 6 percent during its July meeting, while markets had forecast a smaller 25bps cut. The Committee signalled further easing, underscoring that recent data indicate weaker economic activity from previous quarters; a decelerating global economy and slower domestic inflation.

The Central Bank of Brazil voted unanimously to hold its key Selic rate at a record low of 6.50 percent on 19 June 2019, as widely expected. The Committee underscored that recent data on economic activity indicate a halt in the process of economic recovery in the past quarters. The economic recovery is still taking longer than expected, with recent negative data. The Brazilian economy shrank 0.2 percent on quarter in the first quarter of 2019, slowing from a 0.1 percent expansion in the previous period.

The Central Bank of Brazil voted unanimously to hold its key Selic rate at a record low of 6.50 percent on May 8th 2019, as widely expected. Policymakers said that the decision is consistent with the convergence of inflation to the target range and will continue to depend on the evolution of economic activity, inflation outlook and balance of risks. The Committee added that developments of the reform agenda will affect current expectations and macroeconomic projections.

The Central Bank of Brazil voted unanimously to hold its key Selic rate at a record low of 6.50 percent on March 20th 2019, as widely expected. Policymakers noted that recent data on economic activity came in below expectations, still the domestic economy continues on a gradual recovery path and added that the global outlook remains challenging.