Brazil Central Bank Cuts Selic Rate 50bps to 10.50%

The Banco Central Do Brasil cut the Selic interest rate by another 50 basis points to 10.50% from 11.00% previously. In its statement, Brazil's Central Bank Monetary Policy Committee (Copom) said [translated]: "The Monetary Policy Committee believes that the timely mitigate the effects coming from a more restrictive global environment, a moderate adjustment in the level of the base rate is...