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Brazil central bank sees unlikelihood of rate cuts exceeding 50 bps in the future - REUTERS
BRASILIA, Aug 8 (Reuters) - Brazil’s central bank signaled on Tuesday there is low probability of an additional intensification in the pace of its rate cuts, after it embarked on an easing cycle with a first 50 basis point reduction.
In the minutes of the meeting held between August 2-3, when the rate-setting committee known as Copom lowered the benchmark interest rate to 13.25%, the central bank stressed that largers cuts would “require substantial positive surprises that would raise even further the confidence in the prospective disinflationary dynamics.” (Reporting by Marcela Ayres; Editing by Steven Grattan)
