Brazil central bank cuts rate for first time in 3 years

Brasília (AFP) - Brazil's central bank cut its key interest rate for the first time in more than three years Wednesday as a new center-right government's reforms fuel hopes of a recovery in Latin America's largest economy. It cited a dip in inflation and forecasts that a long recession -- Brazil's worst in a century -- is nearing its end. "The available evidence is compatible with a recent stabilization of the Brazilian economy and the possible gradual recovery of economic activity," the