Two weeks to Brazilian presidential election, Central Bank cuts interest rate for the fifth time running

President Lula is neck-and-neck in election polls with conservative senator Flavio Bolsonaro, son of jailed former right wing president Jair Bolsonaro With presidential elections in two weeks’ time, Brazil’s central bank cut its benchmark interest rate for the fifth straight time. The bank lowered the so-called Selic rate from 14% to 13.75%, and is part of a cycle that began in March after almost two years of rate hikes.

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