Brazilian Rate Cut, the First Since August 2020

The Central Bank of Brazil’s Selic interest rate was cut more sharply than anticipated to 13.25%. Such had been at 13.75% since the last hike in a long tightening cycle was done in August 2022. In all, the rate climbed 450 basis points in 2022 and 725 bps in 2021 from a pandemic base of […]