Brazil cuts interest rate to 14% for the fourth consecutive time

The Central Bank of Brazil cut its main interest rate on Wednesday for the fourth consecutive time, two months ahead of the presidential elections in which President Luiz Inácio Lula da Silva is seeking a new term.

However, the central bank remained cautious due to the war in the Middle East, which has driven up oil prices and fueled concerns about global inflation.

Annual inflation slowed to 4.64% in June, supported by lower food and fuel prices, although it remains above the official target range of 1.5% to 4.5%.