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Brazil Has Announced Interest Rate Cuts In Four Hours, And Four Central Banks Have Followed The US Federal Reserve To Cut Interest Rates.
Brazil's central bank announced in Brasilia today that the benchmark interest rate will be cut by 50 basis points to 6% from 6.50%, and the market is expected to cut interest rates by 25 basis points.
Earlier, the three middle east (UAE, Bahrain and Saudi Arabia) have followed the US Federal Reserve's interest rate cuts in July.
Brazil's central bank said the interest rate decision was adopted unanimously. The next step in monetary policy still depends on economic activity and inflation risk.
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