x     Brazil’s central bank interest rate-setting committee, Copom, ‌unanimously voted on Wednesday to lower its benchmark Selic rate by 25 basis points to 14.25%, a level last seen in May 2025, ‌but acknowledging a tougher inflation outlook given the risks from election-year fiscal stimulus and the impact of a likely El Nino weather pattern shock. Copom said in its policy statement…”it reaffirms that the total magnitude of the calibration cycle will be established in light of new information“.

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