Central Bank lowers Brazil's benchmarkinterest to10.5% peryear
The recent rise in the dollar and increased uncertainties have led the Brazilian Central Bank to slow down the pace of cuts in interest rates. By five votes to four, the bank's policy committee reduced the Selic-the country's benchmark interest rate-by 0.25 percentage points, down to 10.5 percent per year, its lowest since February 2022, when it reached 9.75 percent.