Brazil's Central Bank on Wednesday cut its benchmark Selic interest rate for the third consecutive time, following cuts in March and April. "Brazil's Central Bank Keeps Cutting Despite Hot Prices," at 6:07 p.m. ET, incorrectly said it cut for the third consecutive month.

Brazil economy grew again in April, the central bank's GDP preview shows, a resilient reading that narrows the room to cut rates as Copom decides.

Brazil's central bank cuts the Selic rate to 14.25% for a third consecutive meeting, continuing a cautious easing cycle from a near 20-year high of 15%.