Brazil cuts key interest rate a half-point

BRASÍLIA: Brazil’s central bank cut its key interest rate by half a point for the fourth straight time Wednesday, continuing the easing President Luiz Inacio Lula da Silva hopes will spur Latin America’s biggest economy.

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In line with analyst forecasts, the bank’s monetary policy committee said its members had voted unanimously to lower the benchmark Selic rate to 11.75 percent in their final meeting of the year, and that they “expect reductions of the same magnitude in their coming meetings.”