World Economy

Brazil’s Feb Growth Fastest in 7 Years

Brazil’s Feb Growth Fastest in 7 YearsBrazil’s Feb Growth Fastest in 7 Years

Economic activity in Brazil grew in February at the fastest pace since 2010, central bank data showed on Monday, in the strongest sign yet that Latin America’s largest economy is close to exiting its worst recession on record, Nasdaq reported. Economic activity rose 1.31% from January after seasonal adjustments, the central bank said, after a revised increase of 0.62% in the previous month. In a unanimous vote Wednesday, the central bank’s 9-member monetary policy committee, known as Copom, decided to reduce its benchmark Selic rate by 100 basis points to 11.25%, its lowest level in nearly two years.

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