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Copom keeps Selic steady, sees ?small' chance of additional cuts

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Brazil's Monetary Policy Committee (Copom) kept the benchmark interest rate stable at 2%, as it was widely expected to do, but said that the possibility of further cuts, albeit small, was not completely off the table. In a statement following its unanimous decision, the committee said that "the economic environment continues to prescribe an extraordinarily elevated monetary stimulus, but [the committee] recognizes that, due to prudential and financial stability issues, the remaining space for the use of monetary policy, if any, should be small."...

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