Brazil cuts interest rate to 10,5%

The unanimous decision was expected by analysts

For the fourth consecutive time, Brazil's central bank cut the country's interest rate in 50 basis points. In a statement identical to that after its two previous meetings, policy makers said "moderate adjustments" in the Selic rate will shield the world's second-biggest emerging market from global turbulence without compromising their goal of lowering inflation to its 4.5 percent target this year.