Brazil's Central Bank cuts benchmark interest rate to 11.25%

Brazil's Central Bank has decided to cut its benchmark interest rate to 11.25% and stated the interest rate decision was "unanimous".

Key headlines (via Reuters):

• Pace of monetary easing will depend on extension of cycle and activity
• Says considers current pace appropriate
• Current economic situation calls for monitoring degree of anticipation of cycle
• Says extension of monetary easing will depend on estimates of structural rates
• Risks for inflation include high degree of uncertainty in external scenario
• Risks for inflation include approval and implementation of economic reforms
• Risks for inflation include intensity of economic recovery
• Says data suggests economy is stabilizing in short term and recovering gradually throughout 2017