Brazil Cuts Rates to 3.75% With Recession Likely After Virus

• Brazil cut its benchmark interest rate by half a point to a record low in a bid to mitigate the effects of the coronavirus pandemic that’s likely to push Latin America’s largest economy into recession.
• The central bank’s board, led by its President Roberto Campos Neto, on Wednesday lowered the Selic to 3.75%.
• Brazil now joins a wave of nations from the U.S. to Turkey that are pumping monetary stimulus to counter the pandemic’s economic impact.

(Source: Bloomberg)