Brazil's central bank cuts key interest rate by a half-point to 10.5%, citing need to shield country from global turbulence

SAO PAULO , January 19, 2012 () – Continuing the process of adjustment of monetary conditions, the Copom unanimously decided to reduce the Selic rate to 10.50 percent, without bias.

The Copom understands that, by promptly mitigating the effects stemming from a more restrictive global environment, a moderate adjustment in the basic rate level is consistent with the scenario of inflation convergence to the target in 2012.

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