BRASILIA (Reuters) -Brazil's central bank lowered its benchmark interest rate by 50 basis points on Wednesday for the fourth time in a row and signaled that it would keep cutting rates at that pace beyond its next meeting in January. Despite acknowledging cooling inflation and improvements in the global economy, the central bank held a steady outlook for its next steps, frustrating some economists who expected policymakers to open the door for bigger rate cuts. The bank's rate-setting committee, known as Copom, unanimously lowered the Selic policy rate to 11.75%, in line with the forecast of all 41 economists polled by Reuters.
Brazil central bank cuts rates, with more likely to come inquirer.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.net Daily Mail and Mail on Sunday newspapers.