Brazilian central bank likely to cut key rate by 100 bps, says Commerzbank

Analysts polled by Commerzbank expect the Brazilian central bank to cut its key rate by 100 basis points, with some forecasting 125 basis points. The bank has cut rates from 14.25% to 12.25% since October 2016, while real rates remain near 7%.

Falling inflation, weak GDP and a stable currency are cited as reasons for the cuts.