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rdf:type	schema:NewsArticle
schema:articleBody	Brazil's central bank cut its benchmark interest rate on Wednesday to a new record low of 4.25 percent, seeking to boost what it called the "gradual recovery" of Latin America's largest economy. The quarter-point cut, in line with market expectations, was decided unanimously by the bank's monetary policy committee, it said in a statement. It was the fifth straight decrease since July 2019. But the bank indicated the loosening cycle was coming to an end. "The Monetary Policy Committee understands that the current stage of the economic cycle demands caution," it said. "The Committee sees interrupting the monetary loosening cycle as appropriate. It emphasizes that its next steps will continue to depend on how economic activity evolves, the risk outlook, and inflation expectations and projections." The Brazilian economy is slowly bouncing back from its worst-ever recession, which ended in 2017 after two years. The government is currently forecasting growth of 2.4 percent this year, double the estimate for 2019. But although far-right President Jair Bolsonaro's government has won plaudits from the business world for pushing through long-sought economic reforms, clouds linger. The deadly new coronavirus outbreak in China -- Brazil's top trading partner -- has taken a hit on leading Brazilian exporters, including state oil company Petrobras and mining firm Vale. Vale's stock-market value has plunged by around $5.5 billion since January 23. And statistics released Tuesday showed Brazil's industrial output fell by 1.1 percent last year, after two years of growth. Brazil's inflation rate came in at 4.31 percent for 2019. Analysts polled by the central bank are forecasting inflation of 3.4 percent this year, on the lower side of the bank's target range of four percent plus or minus 1.5 percentage points. jhb/it
schema:headline	Brazil central bank cuts interest rate to record low
schema:mentions	Latin America Interest rate Industry Far-right politics Recession President of Brazil Inflation Petrobras Jair Bolsonaro Brazil China Severe acute respiratory syndrome coronavirus 2 Business cycle Economy of Brazil Monetary Policy Committee (United Kingdom) Forecasting
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-02-05 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	60 (xsd:integer)
http://data.cimple...tology#hasEmotion	sadness

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