Brazil Central Bank Cuts Interest Rate Again

Brazil central bank cuts interest rate again

BRASMLIA, (Pakistan Point News - APP - 01st Dec, 2016 ) : Brazil's central bank cut its key interest rate for the second month running on Wednesday with a quarter of a percentage point drop to 13.75 percent. "The available evidence indicates the pick-up in economic activity may be later and more gradual than previously anticipated," it said in a statement, after data earlier showed Brazil's recession-hit economy shrank another 0.8 percent in the third quarter.