Copom reduces interest rate to 18.5%

23/11/2005 - 18h35

Lourenço Melo
Reporter Agência Brasil

Brasília – Yesterday, in a unanimous decision, the Monetary Policy Committee (Copom) moved ahead with what it calls its "monetary flexibilization project" and reduced the country's benchmark interest rate, the Selic, another half a percentage point. The Selic went from 19% per year, to 18.5%.

Translation: Allen Bennett

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