Brazil's central bank cuts interest rate by 50 basis points for the second time in a row

Brazil's Central Bank has reduced its interest rate by 50 basis points to 12.75% for the second consecutive time, indicating a commitment to maintaining monetary easing through the year.

The bank's monetary policy committee predicts an average inflation rate of 5% in 2023 and 3.5% in 2024, based on Brazil's current annual inflation of 4.61%.