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المدينة
Brazil reduces benchmark interest rate
The Brazilian Central Bank lowered its main interest rate for the fourth consecutive time, from 14.25% to 14%, two months before the presidential elections, in an effort to stimulate the country's economy. This decision was made despite concerns over global inflation resulting from rising oil prices and the Middle East conflict, even though the annual inflation rate declined to 4.64% in June—still above the targeted range of 1.5% to 4.5%. Economical cars are part of the broader efforts to boost the economy amid inflation risks.
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