BRASILIA (Reuters) - Brazil's central bank slashed its benchmark interest rate by more than expected on Wednesday, with a 75-basis-point cut to a record-low 3.00% cranking up monetary stimulus to help shield the economy from the coronavirus pandemic.
The bank's nine-person rate-setting committee, known as Copom, said its decision was unanimous, although two policymakers suggested an even larger cut. A Reuters survey of 26 economists at the end of April had forecast a second consecutive rate cut of 50 basis points at Wednesday's meeting.