Despite a worrisome rising inflation rate...the central bank voted unanimously to lower the SELIC interest rate by 50 bps...from 12%...to 11.5%
It also cut the rate in late August...after raising it 5 times in 2011.
In September inflation there rose...to 7.3%...the highest in 6 years.
Also in September...the bank cut its 2011 economic forecast to 3.5%...less than half 2010's 7.5% rate.
The real fell to $1.8071...from $1.7740 per usd yesterday.
The bank's statement didn’t include “any message signaling an acceleration of rate cuts,” said a leading economist. “It was a hawkish message.”