Brazil's central bank cut its benchmark Selic interest rate by 25 basis points to 14% on Wednesday, marking its fourth straight quarter-point reduction, Bloomberg reported.

The decision was unanimous and matched economists' expectations. The central bank said future decisions would depend on incoming data.

Bloomberg said the rate cut followed signs of moderating economic growth and easing inflation, with annual inflation slowing to 4.52% in early July from 4.8% a month earlier.