February 5, 2020 / 9:31 PM / 18 days ago

Brazil cuts benchmark interest rate to record-low 4.25%

BRASILIA, Feb 5 (Reuters) - Brazil’s central bank on Wednesday reduced its benchmark interest rate by 25 basis points to a record-low 4.25%, the fifth straight cut but the smallest of the rate-cutting cycle, as policymakers urged caution ahead.

The decision by the bank’s nine-person rate-setting committee known as ‘Copom’ was unanimous, yet with the exchange rate at record lows and economic growth expected to accelerate this year, analysts say there may be no room for more cuts. (Reporting by Jamie McGeever Editing by Brad Haynes)

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