Brazil Cuts Interest Rates

Policy makers hope the move will help boost the economy


Brazil's central bank has cut its benchmark interest rate to a record low of 7.5% in an attempt to reignite a stalled economic recovery.

The cut, from the previous level of 8%, in the main Selic rate follows recently unveiled government stimulus measures.

The central bank move is the ninth cut in a row since August last year, as the growth rate has fallen dramatically from the 7.5% recorded in 2012.