The Central Bank of Brazil said that Wednesday's cut was part of a 'calm and cautious' approach

The Central Bank of Brazil said that Wednesday's cut was part of a 'calm and cautious' approach

 Evaristo Sa

Brazil's Central Bank on Wednesday announced a second consecutive cut to its benchmark interest rate, one of the world's highest, in a boost for left-wing President Luiz Inacio Lula da Silva as he courts a fourth term.

The bank lowered the key rate, known as the Selic, to 14.50 from 14.75 percent.

Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

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