(Bloomberg) -- The Brazilian central bank's decision yesterday to lower the benchmark lending rate a quarter percentage point was too modest for three of seven directors, signaling the pace of cuts may quicken in coming months.
Policy makers, led by central bank President Henrique Meirelles, reduced the overnight lending rate to a record low of 12.5 percent, matching the forecast by all 24 economists surveyed by Bloomberg.
Read more at Bloomberg Emerging Markets News
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