BRASIL : C.Bank Slashes Benchmark To Historic Low 8.5%.

http://en.mercopress.com/2012/05/31/brazil-cuts-interest-rate-for-the-seventh-time-to-a-record-low-of-8.50


     President Dilma Rousseff and her FinMin Guido Mantega are not kidding around...about getting the nation's growth back on track.
     The central bank...led by Alexandre Tombini...dropped the benchmark Selic again...by 50 bps...to a historic low 8.5%.
      The vote for the 7th straight rate drop...was unanimous.
     Since August 2011...the cbank has lopped off 400 bps!
     The REAL's value vs the used has dropped by 20% in 2012...hovering near the 2.00 level.
     After 7.9% GDP growth in 2010...Brasil slowed to barely 3.0 in 2011...and will be lucky to hit 3% in 2012.
      Inflation is under the 6.5% target cap...averaging 5.05% in 2012...thru mid May.