Banco Central do Brasil says it’ll cut by another 50bp at its next meeting also.
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The “SELIC” rate, which stands for “Sistema Especial de Liquidação e de Custódia” (Special System for Settlement and Custody), is the Brazilian central bank’s (Banco Central do Brasil) overnight lending rate.
This article was written by Eamonn Sheridan at www.forexlive.com. Source