Brazil has more room to cut rates, but not much more: Campos Neto

Brazil has more room to cut rates, but not much more: Campos Neto
  • Clock-gray 07:32
  • calendar-gray 03 July 2020

Brazilian interest rates have room to fall further, but not much more, central bank President Roberto Campos Neto said on Thursday, warning that continued cuts from current record lows could trigger unwanted effects, APA reports citing Reuters.

The central bank reduced its benchmark Selic rate to 2.25% last month, bringing real rates close to zero. Policymakers have said that further easing could destabilize financial markets.

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